XAG/USD quotes continue to move within the framework of the development of the fall and the descending channel. At the time of publication of the forecast, the Silver price is 31.77. Moving averages indicate an upward trend. Prices have broken through the area between the signal lines upwards, which indicates pressure from buyers and potential continuation of price growth from 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 32.35 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 29.55.
Silver Forecast XAGUSD for February 27, 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 fall will be a rebound from the upper border of the descending channel. The cancellation of the option of a fall in prices for Silver on February 27, 2025 will be a strong growth and a breakout of 33.85. This will indicate a breakout of the resistance area and a continuation of the rise to the area above the level of 35.75. Expect the acceleration of the decline in XAG/USD quotes with a breakout of the lower boundary of the bullish channel and consolidation of the price below the level of 31.05, which will indicate a breakout of the lower boundary of the bullish correction channel.
Silver Forecast XAGUSD for February 27, 2025 suggests an attempt to test the resistance area near the level of 32.35. Further, the continuation of the fall in quotes with a target below the level of 29.55. The cancellation of the option of a decrease in Silver prices will be a strong growth and a breakout of the level of 33.85. This will indicate a breakout of the resistance area. In this case, we should expect a continuation of the rise in the price of Silver with a target at the level of 35.75.
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