Silver continue to move as part of the growth and the downward channel. At the time of the forecast release, Silver prices are at 22.53. Moving averages indicate a bearish trend. Prices are again 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 decrease in the value of the metal and a test of the support level near the 22.75 area. Where can we expect a rebound down and the continuation of the fall in the price of Silver with a target below the level of 20.85.
XAG/USD Forecast Silver and Analysis January 12, 2022
An additional signal in favor of reducing quotes and prices for XAG/USD Silver will be a test of the trend line on the relative strength index (RSI). The second signal in favor of a decline will be a rebound from the upper border of the descending channel. Cancellation of the option of falling Silver prices on January 12, 2022 will be a strong growth and a breakdown at 23.05. This will indicate a breakdown of the resistance area and continued growth to the area above the level of 24.25. Expect to accelerate the fall in XAG/USD quotes with the breakdown of the support area and closing the price below 21.95.
XAG/USD Forecast Silver and Analysis January 12, 2022 suggests an attempt to test the resistance area near the 22.75 level. Further, the continuation of the fall in quotations with a target below the level of 20.85. Cancellation of the option to reduce Silver prices will be a strong growth and a breakdown of the level of 23.05. 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 24.25.
