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XAG/USD: Fibonacci levels analysis on 26.06.2015

Upward movement is possible.

The price chart is testing support level of 15.74 (correction level 0.0%) of the short-term trend. If this level is broken down the price can drop to 15.47 (Fibonacci retracement 100.0% for the medium-term trend) and 15.20. However it is more probable that the price will rebound and went up to 16.50-16.59 and 16.73-16.84. These are the zone of strong resistance, since here Fibonacci retracement levels for the both trends will coincide.

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