Silver continue to move as part of the correction and the development of the bullish ”Wolfe Wave” pattern. At the time of this forecast, Silver prices are at $ 26.01. Moving averages indicate a bullish trend. Prices went up from the area between the signal lines, which indicates pressure from buyers of the asset and a potential continuation of growth in value already from current levels. At the moment, we should expect an attempt to develop a bearish correction in the value of the metal and a test of the support level near the 25.65 area. Where can we expect a rebound and continued growth in the price of Silver with a target above the level of 27.95.
XAG/USD Forecast Silver and Analysis April 22, 2021
An additional signal in favor of the growth of quotes and prices for XAG/USD Silver will be a test of the support line on the relative strength index (RSI). The second signal in favor of a rise will be a rebound from the lower boundary of the “Triangle” pattern. Cancellation of the option of rising prices for Silver on April 22, 2021 will be a fall and a breakdown of 25.25. This will indicate a breakdown of the support area and a continued fall to the area below the level of 23.15. Expect an acceleration of the rise in XAG/USD quotes with the breakdown of the resistance area and closing of the price above the level of 26.55, which will indicate a breakdown of the upper border of the “Triangle” model.
XAG/USD Forecast Silver and Analysis April 22, 2021 suggests an attempt to test the support area near the 25.65 level. Further, the continuation of the rise in quotations with a target above the level of 27.95. Cancellation of the option of rising prices for Silver will be a fall and a breakdown of the level of 25.25. This will indicate a breakout of the support level. In this case, we should expect the price to continue falling below the level of 23.15.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
