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    XAG/USD: Fibonacci analysis on 28.01.2016

    A fall continuation is possible.

    On the 4-hour chart, you can see that during this week the pair was trading in the range of 14.50-14.33 (0% and 23.6% corrections). These levels will remain crucial in the near-term. A breakdown of the level of 14.33 near its crossover with the 23.6% arc and the 38.2% fan line, could lead to a further fall towards 14.22 (particularly strong level as 38.2% correction for the short-term and 23.6% correction for the medium-term trends overlap here), and possibly 14.13 (50% correction). 

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