Technical analysis XAGUSD for 24.11.2021

The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is ascending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 23.500. The closest resistance is the level 23.900

Key levels

• 23.000, 23.250, 23.500, 23.900, 24.200, 24.500, 24.800, 25.370

Trading scenario

• Recommended opening long positions (Buy) at the current price, with Take Profit of 23.900 and Stop Loss of 23.900

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 23.400, with Take Profit of 23.000 and Stop Loss of 23.000