Technical analysis XAGUSD for 09.03.2022

The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 26.000. The closest resistance is the level 26.775

Key levels

• 28.275, 27.450, 26.775, 26.000, 25.350, 24.625, 23.850, 23.025

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 26.775, with Take Profit of 27.450 and Stop Loss of 26.350

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 26.000, with Take Profit of 25.350 and Stop Loss of 26.200