The quotes of XAG/USD continue to move within the development of the fall and have left the bullish channel. At the time of publication of the forecast, the Silver price is 30.19. Moving averages indicate the presence of a bearish trend. Prices are testing the area between the signal lines, 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 growth in the cost of the metal and a test of the resistance level near the 30.25 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 28.75.
Silver Forecast XAGUSD for November 29, 2024
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 growth will be a rebound from the lower border of the bullish channel. The cancellation of the option of a decrease in prices for Silver on November 29, 2024 will be a strong growth and a breakout of 30.75. This will indicate a breakout of the resistance area and continued growth to the area above 32.65. Expect an acceleration of the fall in XAG/USD quotes with a breakout of the support area and a price close below 29.75.
Silver Forecast XAGUSD for November 29, 2024 suggests an attempt to test the resistance area near 30.25. Further, a continuation of the fall in quotes with a target below 28.75. The cancellation of the option of a decrease in Silver prices will be a strong growth and a breakout of the 30.75 level. This will indicate a breakout of the resistance area. In this case, we should expect continued growth in Silver prices with a target at 32.65.
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