XAGUSD, H4
In the H4 time frame, the XAGUSD faced a crucial support zone at the 24.90 level, aligned with the 38.2 Fibonacci ratio. The RSI oscillator shows a bullish hidden divergence with the asset, signaling a potential bullish momentum for the asset.
- If the price rebounds from the 24.90 level, it will likely rise to the 30.90 resistance.
- However, if the XAGUSD breaches below the support zone, it may trigger a decline to 27.30.
Conclusion
In conclusion, trading CFDs carries inherent risks. Success in this field demands effective risk management. To minimize costly errors and capitalize on trading opportunities, it's crucial to conduct thorough due diligence and manage risks diligently.
