Silver ends the trading week near the 25.75 area. Quotes continue to move within the framework of the growth and the ascending channel. Moving averages indicate a bullish trend for the pair. Prices moved up from the area between the signal lines, which indicates pressure from metal buyers and a potential continuation of growth from the current levels. At the moment, we should expect an attempt to develop a minor correction in the value of the asset and a test of the support level near the area of 24.45. Further, the continued growth in the price of Silver with a potential target above the level of 32.05.
Silver Forecast and XAG/USD December 28, 2020 — January 1, 2021
In favor of the growth of quotations and prices for Silver in the current trading week December 28, 2020 — January 1, 2021 there will be a rebound from the support line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the descending channel. Cancellation of the option to raise XAG/USD quotes will be a fall and a breakdown of the 21.45 area. This will indicate a breakdown of the support area and a continued fall in Silver prices with a target below the level of 18.25. Confirmation of the development of growth will be a breakdown of the resistance level and closing prices above the level of 28.45.
Silver Forecast and XAG/USD December 28, 2020 — January 1, 2021 suggests an attempt to test the support level near the 24.45 area. Then, the continued growth in Silver prices with a target above the level of 32.05. A test of the trend line on the relative strength index (RSI) will be in favor of the rise. Cancellation of the XAG/USD growth option will be a fall and a breakdown of the level of 21.45. This will indicate a continued decline in quotations to the area below the level of 18.25.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link