Heading into overlap resistance, could it reverse from here?XAG/USD is rising towards a resistance level which is an overlap resistance that aligns with the 38.2% Fibonacci retracement and could reverse from this level to our take profit.
Entry: 29.91
Why we like it:
There is an overlap resistance level which aligns with the 38.2% Fibonacci retracement.
Stop loss: 30.74
Why we like it:
There is a pullback resistance level.
Take profit: 29.12
Why we like it:
There is a pullback support level which lines up with the 78.6% Fibonacci retracement.
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