Description:
The counter XAGUSD is moving upwards in the support trend line from 06th May. The support trend line has been tested thrice at the prices 25.68, 27.18 and 27.55. The price is still maintaining above the support trend line and there is no indication for a breakout. The buying pressure of the market may pull the price even more upwards. The existing bullish trend is expected to continue for this condition. The upward movement of the MACD indicator curves gives additional support to the description.
The major levels for this counter are
R2 – 28.32
R1 – 28.10
PP – 27.74
S1 – 27.53
S2 – 27.16
The counter XAGUSD is moving upwards in the support trend line from 06th May. The support trend line has been tested thrice at the prices 25.68, 27.18 and 27.55. The price is still maintaining above the support trend line and there is no indication for a breakout. The buying pressure of the market may pull the price even more upwards. The existing bullish trend is expected to continue for this condition. The upward movement of the MACD indicator curves gives additional support to the description.
The major levels for this counter are
R2 – 28.32
R1 – 28.10
PP – 27.74
S1 – 27.53
S2 – 27.16