Silver continue to move as part of the fall and the bearish channel. At the time of the publication of the forecast, the price of Silver is 23.98. Moving averages indicate a bullish trend. Prices have broken through the area between the signal lines down, which indicates pressure from sellers of the asset and a potential continuation of the fall in value already from current levels. At the moment, we should expect an attempt to develop a correction in the value of the metal and a test of the resistance level near the area of 25.15. Where should we expect a rebound down and the continuation of the fall in the price of Silver with a target below the level of 23.80.
XAG/USD Forecast Silver and Analysis April 1, 2022
An additional signal in favor of falling quotes and prices for XAG/USD Silver will be a test of the resistance line on the relative strength index (RSI). The second signal in favor of the decline will be a rebound from the upper border of the descending channel. Cancellation of the option of falling prices for Silver on March 31, 2022 will be a strong growth and a breakdown of 26.05. This will indicate a breakdown of the resistance area and continued growth to the area above the level of 28.25. It is worth expecting an acceleration in the fall of XAG/USD quotes with a breakdown of the support area and closing the price below the level of 24.25.
XAG/USD Forecast Silver and Analysis April 1, 2022 suggests an attempt to test the resistance area near the level of 25.15. Further, the continuation of the fall of quotations with the target below the level of 23.80. Cancellation of the option of falling prices for Silver will be a strong growth and a breakdown of the level of 26.05. This will indicate a breakdown of the resistance level. In this case, we should expect the price to continue to rise above the level of 28.25.
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