XAG/USD quotes continue to move within the framework of the growth and bullish channel development. At the time of publication of the forecast, the Silver price is 32.40. Moving averages indicate an upward trend. Prices are again testing the area between the signal lines, 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 bearish correction in the cost of the metal and a test of the support level near the 31.85 area. Where we should expect a price rebound upward and continued growth in the price of Silver with a target above the level of 34.75.
Silver Forecast XAGUSD for March 7, 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 growth will be a rebound from the lower border of the bullish channel. Cancellation of the option of increasing prices for Silver on March 7, 2025 will be a fall and a breakout of 30.45. This will indicate a breakout of the support area and a continuation of the fall to the area below the level of 29.35. Expect the acceleration of growth of XAG/USD quotes with a breakout of the resistance area above the level of 33.25.
Silver Forecast XAGUSD for March 7, 2025 suggests an attempt to test the support area near the level of 31.85. Further, the continuation of the growth of quotes with a target above the level of 34.75. The cancellation of the option of increasing prices for Silver will be a fall and a breakout of the level of 30.45. This will indicate a breakout of the support area. In this case, we should expect the continuation of the fall in the price of Silver with a target at the level of 29.35.
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