The quotes of XAG/USD continue to move as part of the development of the fall and the downward channel. At the time of publication of the forecast, the price of Silver is 27.52. Moving averages indicate an upward trend. Prices have broken through the area between the signal lines downwards, which indicates pressure from sellers and a potential continuation of the fall in value from current levels. At the moment, we should expect an attempt to develop growth in the value of the metal and a test of the resistance level near the area of 28.15. Where can we expect a downward rebound and a continuation of the fall in the price of Silver with a target below the level of 25.35.
Silver Forecast XAGUSD for July 26, 2024
An additional signal in favor of a reduction in quotes and prices for Silver XAG/USD will be a test of the resistance line on the relative strength indicator (RSI). The second signal in favor of a rise will be a rebound from the upper border of the bearish channel. Cancellation of the option of falling prices for Silver on July 26, 2024 will be a strong growth and a breakdown of 29.25. This will indicate a breakdown of the resistance area and continued growth to the area above the level of 31.65. Expect an acceleration in the fall of XAG/USD quotes with a breakdown of the support area and closing of the price below the level of 26.85.
Silver Forecast XAGUSD for July 26, 2024 suggests an attempt to test the resistance area near the level of 28.15. Next, quotes continue to fall with a target below the level of 25.35. Cancellation of the option to reduce prices for Silver will be a strong growth and a breakdown of the level of 29.25. This will indicate a breakdown of the resistance area. In this case, we should expect a continued rise in the price of Silver with a target at 31.65.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
