Quotes of Silver XAG/USD are ending the trading week near the 30.58 area. Quotes continue to move within the framework of the correction and bullish channel development. Moving averages indicate the presence of an upward trend for the asset. Prices have broken through the area between the signal lines upwards, which indicates pressure from metal buyers and potential continuation of growth from the current levels. At the moment, we should expect an attempt to develop a fall in the asset value and a test of the support level near the 27.65 area. Further, the continuation of the growth of the Silver price with a potential target above the 35.55 level.
Silver Forecast January 20 — 24, 2025
A rebound from the support line on the relative strength indicator will act in favor of the growth of Silver quotes and prices in the current trading week of January 20 — 24, 2025. The second signal will be a rebound from the lower border of the bullish channel. The XAG/USD quotes growth option will be cancelled if it falls and breaks through the 26.25 area. This will indicate a breakout of the support area and continued decline in Silver prices with a target below 24.15. The growth will be confirmed by a breakout of the resistance level and closing of prices above 33.05, which will indicate a breakout of the upper boundary of the downward correction channel.
Silver Forecast January 20 — 24, 2025 suggests an attempt to test the support level near the 27.65 area. Then, continued growth in Silver prices with a target above 35.55. A test of the trend line on the relative strength indicator will be in favor of the rise. The XAG/USD growth option will be cancelled if it falls and breaks through the 26.25 level. This will indicate a continued decline in quotes to the area below 24.15.
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