Chart of the day

XAGUSD is testing the upside resistance of 23 and if we get a break above this level we could see an extension higher to 25. A rejection here will leave us in the 21.5 to 23 range.

Only in the case of a clear confirmed break above 23, we can see an immediate upside extension and a test of the 25-26 zone. A break below 21.50 will lead to a complete downside reversal and a test of the important 20.50 upside support

_{Long trades could be opened here with a stop loss below 22.30 only upon a confirmed break above 23 as they have a possible better risk to reward. Short trades are not advisable here. This can be traded with options as well.}

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