Silver continue to move as part of the development of strong growth and a bullish channel. At the time of the publication of the forecast, the price of Silver is 19.81. Moving averages indicate a bullish trend. Prices have broken through the area between the signal lines up, which indicates pressure from buyers of the asset and a potential continuation of the growth in value already from current levels. At the moment, we should expect an attempt to develop a correction in the value of the metal and a test of the support level near the 19.30 area. Where can we expect a rebound upwards and a continuation of the growth in the price of Silver with a target above the level of 21.05.
XAG/USD Forecast Silver and Analysis September 14, 2022
An additional signal in favor of rising 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 rebound from the lower border of the bullish channel. Cancellation of the option of rising prices for Silver on September 13, 2022 will be a fall and a breakdown of 18.65. This will indicate a breakdown of the support area and a continuation of the decline to the area below the level of 17.35. It is worth expecting an acceleration in the growth of XAG/USD quotes with a breakdown of the resistance area and closing the price above the level of 20.25.
XAG/USD Forecast Silver and Analysis September 14, 2022 suggests an attempt to test the support area near the level of 19.30. Further, the continuation of the growth of quotations with a target above the level of 21.05. Cancellation of the option of raising prices for Silver will be a fall and a breakdown of the level of 18.65. This will indicate a breakdown of the lower boundary of the bullish channel. In this case, we should expect a continuation of the decline in the price of Silver with a target at 17.35.
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