Silver complete the trading week near the area of 25.17. Quotes continue to move within the framework of growth and a downward channel. Moving averages indicate the presence of a bullish trend for the pair. Prices have broken through the area between the signal lines up, which indicates pressure from buyers of the metal and a potential continuation of growth already from current levels. At the moment, we should expect an attempt to develop a fall in the value of the asset and a test of the support level near the area of 23.95. Further, the continuation of the rise in the price of Silver with a potential target above the level of 33.55.
Silver Weekly Forecast March 21 — 25, 2022
In favor of the growth of quotes and prices for Silver in the current trading week March 21 — 25, 2022 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 bearish channel. Cancellation of the growth option for XAG/USD quotes will be a fall and a breakdown of the 20.05 area. This will indicate a breakdown of the support area and a continuation of the fall in Silver prices with a target below the level of 16.55. A confirmation of the development of growth will be a breakdown of the resistance level and the closing of prices above the level of 26.85, which will indicate a breakdown of the upper limit of the downward correction channel.
Silver Weekly Forecast March 21 — 25, 2022 suggests an attempt to test the support level near the m area. Then, the continuation of the rise in Silver prices with a target above the level of 33.55. In favor of the rise will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option for XAG/USD will be a fall and a breakdown of the level of 20.05. This will indicate a continued decline in quotes to the area below the level of 16.55.
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