Silver continue to move within the correction and the downward channel. At the time of this forecast, Silver prices are at 22.40. Moving averages indicate a bearish trend. Prices broke through the area between the signal lines downward, 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 rise in the value of the metal and a test of the resistance level near the 23.05 area. Where can we expect a rebound 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 September 22, 2021
An additional signal in favor of a fall in 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 September 22, 2021 will be a strong growth and a breakdown on 05.24. This will indicate a breakdown of the resistance area and a continued rise to the area above the level of 25.65. Expect an acceleration of the fall in XAG/USD quotes with the breakdown of the support area and closing of the price below the level of 21.95, as we can see, while buyers are waiting for the area.
XAG/USD Forecast Silver and Analysis September 22, 2021 imply an attempt to test the resistance area near the 23.05 level. Further, the continuation of the fall in quotations with a target below the level of 20.85. Cancellation of the option of falling prices for Silver will be a strong growth and a breakdown of the level of 24.05. 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 25.65.
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