Price may increase to $64
SILVER Price Analysis – 11 December
If the price is higher than $63 and a lot of people purchase it, it will attempt to rise into the $64–$65 range. The price of silver may drop and test the $61 and $60 support levels if merchandisers are successful in maintaining the $63 pricing attitude and the $62 support position is breached.
XAGUSD Market
Key Levels:
Resistance levels: $63, $64. $65
Support levels: $62, $61, $60
XAGUSD Long-term trend: Bullish
On the daily chart, a positive trend started emerging on since November when double bottom chart pattern formed. Silver began to rise after hitting the $55 barrier level. Since August 5, buyers seem to have dominated daily chart requests. Strong consumer demand drove up prices by $60 over the previous month, but as bulls gained traction and buying was steady, white essence began to soar. Over the last two weeks, bulls have become more aggressive, and they tested at $61 last week. The second test in the previously described level is this one. It’s an upturn today.
The price of silver has a histogram above zero and is higher than the Hull Suite forex signals index. The QQE MOD, one of the best forex signal indicators, is currently showing a positive signal. If the price is higher than $63 and a lot of people purchase it, it will attempt to rise into the $64–$65 range. The price of silver may drop and test the $61 and $60 support levels if merchandisers are successful in maintaining the $63 pricing attitude and the $62 support position is breached.
XAGUSD Medium-term Trend: Bullish
The 4-hour chart of the XAGUSD indicates an upward trend. A few days ago, a double bottom map pattern appeared near $56, indicating a significant change in direction. The $55 threshold is Silver’s first challenge. The set price was surpassed, arrestment was prohibited. The tariffs have been increased to $63 per unit due to the guests’ high spending power.
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