XAG/USD Forecast Silver and Analysis January 13, 2022


Silver continue to move as part of the growth and the downward channel. At the time of the forecast release, Silver prices are at 22.98. Moving averages indicate a bearish trend. Prices have broken up the area between the signal lines, which indicates pressure from buyers of the asset and a potential continuation of the growth in value already 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 22.45 area. Where can we expect an upward rebound and continued growth in the price of Silver with a target above the level of 24.75 as part of the start of the “Double Bottom” reversal pattern.

XAG/USD Forecast Silver and Analysis January 13, 2022

An additional signal in favor of raising 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 growth will be a rebound from the lower border of the reversal pattern. Cancellation of the Silver price growth option on January 13, 2022 will be a fall and a breakdown at 21.65. This will indicate a breakdown of the support area and a continued fall to the area below the level of 20.25. 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 23.55, which will indicate a breakdown of the downward correction channel.

XAG/USD Forecast Silver and Analysis January 13, 2022

XAG/USD Forecast Silver and Analysis January 13, 2022 suggests an attempt to test the support area near the 24.75 level. Further, the continued growth of quotations with a target above the level of 24.75. Cancellation of the option to raise Silver prices will be a fall and a breakdown of the level of 21.65. This will indicate a breakdown of the support level and the cancellation of the reversal pattern. In this case, we should expect the price to continue falling below the level of 20.25.


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