Silver continue to move as part of the growth and the downward channel. At the time of the forecast publication, Silver prices are at $ 23.35. Moving averages indicate a bearish trend. Prices are testing the area between the signal lines, which indicates pressure from the sellers of the asset and a potential continuation of the fall in value from the current levels. At the moment, we should expect an attempt to develop a fall in the value of the metal and a test of the support level near the 22.65 area. Where can we expect a rebound and a continued rise in the price of Silver with a target above the level of 26.15.
XAG/USD Forecast Silver and Analysis December 2, 2020
An additional signal in favor of raising 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 growth will be a breakdown of the upper border of the descending channel. Cancellation of the option to raise Silver prices on December 2, 2020 will be a fall and a breakdown at 21.55. This will indicate a breakdown of the support area and a continued fall to the area below the level of 19.35. Expect an acceleration in the rise of XAG/USD quotes with the breakdown of the resistance area and closing prices above the level of 24.55.
XAG/USD Forecast Silver and Analysis December 2, 2020 suggests an attempt to test the support area near 22.65. Further, the continuation of the rise in quotations with a target above the level of 26.15. Cancellation of the option of rising prices for Silver will be a fall and a breakdown of the level of 21.55. This will indicate a breakdown of the support level. In this case, we should expect the price to continue falling below the level of 19.35.
