XAGUSD, Daily
On the Daily timeframe, XAGUSD currently navigates within a descending channel and faces the 30.30 resistance aligned with the golden Fibonacci pocket.
The Stochastic oscillator shows overbought conditions, and the RSI crosses the 50-line upwards, giving us a mixed sentiment for the asset:
- If the price breaks above the 30.30 resistance, it will open the way to the 32.30 resistance;
- However, a rebound from the golden Fibonacci pocket may trigger a decline to 28.80 support.