The quotes of XAG/USD continue to move within the framework of the fall and have left the bullish channel. At the time of publication of the forecast, the Silver price is 30.46. Moving averages indicate 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 fall in the metal price and a test of the support level near the 29.65 area. Where should we expect an upward price rebound and continued growth in the Silver price with a target above the level of 33.35.
Silver Forecast XAGUSD for November 27, 2024
An additional signal in favor of an increase in 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. The cancellation of the option of a decrease in Silver prices on November 27, 2024 will be a fall and a breakout of 29.15. This will indicate a breakout of the support area and a continuation of the fall to the area below the level of 27.25. We should expect the acceleration of growth of XAG/USD quotes with a breakout of the resistance area and closing of the price above the level of 31.05, which will indicate a breakout of the upper boundary of the descending correction channel.
Silver Forecast XAGUSD for November 27, 2024 suggests an attempt to test the resistance area near the level of 29.65. Further, the continuation of the fall in quotes with a target below the level of 33.35. The cancellation of the option of a decrease in Silver prices will be a strong growth and a breakout of the level of 29.15. This will indicate a breakout of the resistance area. In this case, we should expect the continuation of the growth of the Silver price with a target at the level of 27.25.
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