Silver continue to move as part of the growth and left the descending channel. At the time of the publication of the forecast, Silver prices are at $ 26.24. 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 25.75 area. Where can we expect a rebound and continued growth in the price of Silver with a target above the level of 29.45.
XAG/USD Forecast Silver and Analysis April 23, 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 upper border of the downtrend channel. Cancellation of the Silver price growth option on April 23, 2021 will be a fall and a breakdown at 24.35. This will indicate a breakdown of the support area and a continued fall to the area below the level of 22.55. 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 27.15, which will indicate a breakdown of the resistance area.
XAG/USD Forecast Silver and Analysis April 23, 2021 suggests an attempt to test the support area near the 25.75 level. Further, the continuation of the rise in quotations with a target above the level of 29.45. Cancellation of the growth option for Silver prices will be a fall and a breakdown of the level of 24.35. This will indicate a breakout of the support level. In this case, we should expect the price to continue falling below the level of 22.55.
