XAG/USD quotes continue to move within the development of growth and a bullish channel. At the time of publication of the forecast, the Silver price is 32.17. Moving averages indicate the presence of a bearish trend. Prices have broken through the area between the signal lines upwards, which indicates pressure from buyers and potential continuation of the price growth 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 area of 31.05. Where should we expect a price rebound upwards and continued growth in the price of Silver with a target above the level of 35.25.
Silver Forecast XAGUSD for April 16, 2025
An additional signal in favor of growth in 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 lower border of the bullish channel. Cancellation of the option of growth in prices for Silver on April 16, 2025 will be a fall and a breakout of 30.50. This will indicate a breakout of the support area and a continuation of the fall to the area below the level of 27.65. Expect the acceleration of the rise in XAG/USD quotes with a breakout of the resistance area above the level of 32.75.
Silver Forecast XAGUSD for April 16, 2025 suggests an attempt to test the support area near the level of 31.05. Further, the continuation of the growth of quotes with a target above the level of 35.25. The cancellation of the option of rising prices for Silver will be a fall and a breakout of the level of 30.50. 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 27.65.
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