XAGUSD is approaching our first resistance at 15.53 (50% Fibonacci retracement, 100% Fibonacci extension, horizontal overlap resistance) where a strong drop might occur below this level pushing price down to our major support at 14.73 (horizontal swing low support, 61.8% Fibonacci extension). Stochastic is also approaching resistance where we might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
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