XAGUSD: Three key point to keep in mind

Hi traders,

On this XAGUSD daily chart I have drawn three key points for this pair.

• The lowest one is the 127.2% extension of the mid December to mid January move
  
• The middle one is the 141.4% extension of the mid December to mid January move combined with the 127.2% extension of the late January move
  
• The top one is the 161.8% extension of the mid December to mid January move combined with the 161.8% extension of the late January move
  

Cheers

Kommentar:

We can see price having some trouble breaking the lowest area, although I do expect a breakout to the upside.

Kommentar:

Completed AB=CD pattern at the 161.8% Fibonacci extensions.

Kommentar:

Nice reversal from the 161.8% Fibonacci extension