XAG/USD quotes continue to move within the development of the correction and the descending channel. At the time of publication of the forecast, the Silver price is 30.37. Moving averages indicate the presence of a bearish trend. Prices have broken through the area between the signal lines downwards, which indicates pressure from sellers and a potential continuation of the fall in price from the current levels. At the moment, we should expect an attempt to develop a decrease in the cost of the metal and a test of the support level near the 29.15 area. From where we should expect a price rebound upward and continued growth in the price of Silver with a target above the level of 32.85.
Silver Forecast XAGUSD for April 10, 2025
An additional signal in favor of the growth of quotes and prices for Silver XAG/USD will be a test of the support line on the relative strength indicator (RSI). The second signal in favor of a decline will be a rebound from the support area on the price chart. The cancellation of the option of growth in prices for Silver on April 10, 2025 will be a fall and a breakout of 27.95. This will indicate a breakout of the support area and a continuation of the fall to the area below the level of 26.25. We should expect the acceleration of the rise in XAG/USD quotes with a breakout of the resistance area above the level of 31.05, which will indicate a breakout of the upper boundary of the downward correction channel.
Silver Forecast XAGUSD for April 10, 2025 suggests an attempt to test the support area near the level of 29.15. Further, the continuation of the growth of quotes with a target above the level of 32.85. The cancellation of the option of rising prices for Silver will be a fall and a breakout of the level of 27.95. This will indicate a breakout of the support area. In this case, we should expect a continuation of the decline in the price of Silver with a target at the level of 26.25.
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