Silver Price: Buyers Momentum Increase Daily

Price may break up $67 level

SILVER Price Analysis – 18 December

If the price moves above $67 and there is significant buying pressure, it could attempt to rise towards the $68–$69 range. However, if the sellers manage to hold the $67 price level and the $65 support is broken, the price of silver may decline and test the $64 and $63 support levels.

XAGUSD Market

Key Levels:

Resistance levels: $67, $68. $69

Support levels: $65, $64, $63

XAGUSD Long-term trend: Bullish

On the daily chart, a positive trend remains since November when a double bottom pattern emerged. Silver started to increase after breaking through the $55 level. Since August 5, buyers have been more active on the daily chart. Strong consumer demand pushed prices up by $65 compared to the previous month. As the bulls gained strength and buying remained steady, silver began to rise sharply. Over the past two weeks, the bulls have become more aggressive, with the price testing the $67 level last week. This is the second attempt to retest that level, and today’s movement shows an upward trend.

The price of silver has a histogram above zero and is higher than the Hull Suite forex signals index. The QQE MOD, which is one of the top forex signal indicators, is currently showing a positive signal. If the price moves above $67 and there is significant buying pressure, it could attempt to rise towards the $68–$69 range. However, if the sellers manage to hold the $67 price level and the $65 support is broken, the price of silver may decline and test the $64 and $63 support levels.

XAGUSD Medium-term Trend: Bullish

The 4-hour chart for XAGUSD shows an upward movement. A few days back, a double bottom pattern formed close to $56, signaling a major shift in direction. The $55 level represents Silver’s initial test. The price broke above this level, and resistance was avoided. Tariffs have been raised to $67 per unit because of the strong purchasing power of the buyers.

Currently, silver is rising above key dynamic support levels. The buy signal is being used more often by the QQE MOD.

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