The quotes of XAG/USD continue to move within the framework of the growth and bullish channel development. At the time of the forecast publication, the Silver price is 32.92. Moving averages indicate the presence of an upward trend. Prices have broken through the area between the signal lines upwards, which indicates pressure from buyers and a potential continuation of the price growth from the current levels. At the moment, we should expect an attempt to develop a bearish correction in the metal price and a test of the support level near the 32.55 area. From where we should expect an upward price rebound and continued growth in the Silver price with a target above the level of 34.15.
Silver Forecast XAGUSD for February 20, 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 the rise will be a rebound from the lower border of the bullish channel. The cancellation of the Silver price growth scenario on February 20, 2025 will be a fall and a breakout of 32.25. This will indicate a breakout of the support area and a continuation of the fall to the area below 29.65. It is worth expecting an acceleration of the growth of XAG/USD quotes with a breakout of the resistance area and the price closing above 33.45.
Silver Forecast XAGUSD for February 20, 2025 suggests an attempt to test the support area near the level of 32.55. Further, the continuation of the growth of quotes with a target above the level of 34.15. The cancellation of the Silver price growth scenario will be a fall and a breakout of the level of 32.25. This will indicate a breakout of the support area. In this case, it is worth expecting a continuation of the decline in Silver prices with a target at the level of 29.65.
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