Although the indicators OsMA and Stochastic are in favour of the buyers on the daily and weekly charts, the rise in the XAG/USD is slowing down.
On the four-hour chart OsMA histogram is decreasing, Stochastic started to give signals for short positions.
On the daily chart the price has reached the key resistance level of 15.05 (ЕМА200), which is not far from the upper line of the corrective channel on the 4-hour and daily charts. Currently, the price is in the range of 15.05 (ЕМА200) and 14.75 (ЕМА144 on the daily chart). Breakdown of this level to either direction will raise strong dynamics in the pair XAG/USD. In case of further rise, the pair will face strong resistance at the level of 5.30 (Fibonacci 0%) The downwave can reach the level of 21.50 since mid-July 2014, to which the pair returned in March, June, July and August 2015.
If the decline resumes, after breakdown of support level of 14.75, the pair XAG/USD will go to 14.35 (ЕМА50 and the middle of the upward corrective channel on the daily chart), 14.00 (lows of August), and to the lows of December and the lows of the year 2015 at the level of 13.65, then, to the lows of 2009 at the levels of 12.30 and 13.00. Support levels: 14.75, 14.35, 14.00, 13.65 and 13.50.
Resistance levels: 15.05, 15.30, 16.00 and 16.15.
Sell Stop: 14.85. Stop-Loss: 15.05. Take-Profit: 14.75, 14.35, 14.00, 13.65, 13.50 and 13.20.
Buy Stop: 15.10. Stop-Loss: 14.95. Take-Profit: 15.30, 16.00 and 16.15.