The quotes of XAG/USD continue to move within the development of the fall and bearish channel. At the time of publication of the forecast, the Silver price is 29.95. Moving averages indicate the presence of a bearish 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 30.55 area. From where we should expect a price rebound downwards and a continuation of the fall in the Silver price with a target below the level of 27.45.
Silver Forecast XAGUSD for November 15, 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 decrease in Silver prices on November 15, 2024 will be a strong growth and a breakout of 31.75. This will indicate a breakout of the resistance area and continued growth to the area above 33.65. Expect an acceleration of the fall in XAG/USD quotes with a breakout of the support area and a price close below 29.25.
Silver Forecast XAGUSD for November 15, 2024 suggests an attempt to test the resistance area near 30.55. Further, a continuation of the fall in quotes with a target below 27.45. A strong growth and a breakout of 31.75 will cancel the option of a decline in Silver prices. This will indicate a breakout of the resistance area. In this case, we should expect continued growth in Silver prices with a target at 33.65.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
