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.
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