FX.co ★ XAG/USD approaching support, potential bounce!

XAGUSD is approaching our first support at 14.8020 (horizontal pullback support, 61.8% Fibonacci extension , 61.8% Fibonacci retracement ) where a strong bounce might occur above this level to our major resistance at 15.2117 (horizontal overlap resistance, 50% Fibonacci retracement ). Stochastic is also approaching support. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.