The quotes of XAG/USD continue to move within the development of a fall and a descending channel. At the time of publication of the forecast, the Silver price is 30.66. Moving averages indicate the presence of a bearish trend. Prices have broken through the area between the signal lines upwards, 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 growth in the cost of the metal and a test of the resistance level near the 31.15 area. From where we should expect a price rebound downwards and a continuation of the fall in the price of Silver with a target below the level of 28.75.
Silver Forecast XAGUSD for December 17, 2024
An additional signal in favor of a decrease 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 upper border of the bearish channel. The cancellation of the option of a fall in prices for Silver on December 17, 2024 will be a strong growth and a breakout of 31.25. This will indicate a breakout of the resistance area and a continuation of the rise to the area above 33.45. Expect the acceleration of the fall in XAG/USD quotes with a breakout of the support area and the price closing below 30.25.
Silver Forecast XAGUSD for December 17, 2024 suggests an attempt to test the resistance area near 31.15. Further, the continuation of the fall in quotes with a target below 28.75. The cancellation of the option of a decrease in Silver prices will be a strong growth and a breakout of the 31.25 level. This will indicate a breakout of the resistance area. In this case, we should expect continued growth in Silver prices with a target at 33.45.
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