XAG/USD quotes continue to move within the development of the fall and have left the bullish channel. At the time of publication of the forecast, the Silver price is 30.24. Moving averages indicate the presence of an upward 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 bullish correction in the metal price and a test of the resistance level near the 30.95 area. Where should we expect a price rebound downwards and a continuation of the fall in the price of Silver with a target below the level of 26.65.
Silver Forecast XAGUSD for April 8, 2025
An additional signal in favor of a fall in quotes and prices for Silver XAG/USD will be a test of the resistance 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. The cancellation of the option of falling prices for Silver on April 8, 2025 will be a strong growth and a breakout of 31.95. This will indicate a breakout of the resistance area and continued growth to the area above 33.65. Expect the acceleration of the fall in XAG/USD quotes with a breakout of the support area below 28.75.
Silver Forecast XAGUSD for April 8, 2025 suggests an attempt to test the resistance area near 30.95. Further, the continuation of the fall in quotes with a target below 26.65. The cancellation of the option of falling prices for Silver will be a strong growth and a breakout of the level of 31.95. This will indicate a breakout of the resistance area. In this case, we should expect continued growth in the price of Silver with a target at 33.65.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
