Silver Price Is Targeting $39 Point

Buyers are pushing higher

SILVER Price Analysis – 14 August

It will try to rise up into the $39–$40 zone if the price is higher than $38 and many people buy it. However, the price of silver may drop and test the $36 and $35 support possibilities if merchandisers are able to hold onto the $38 pricing position and the $37 support position is broken.

XAGUSD Market

Key Levels:

Resistance levels: $38, $39, $40

Support levels: $37, $36, $35

XAGUSD Long-term trend: Bullish

The daily chart shows a positive outlook. Silver bounced back from the $35 support level. Since August 5, buyers seem to have taken the lead in daily chart requests. Strong consumer demand caused prices to rise by $38 over the previous month, but as buying stayed steady and bulls gained ground, the white essence began to soar. Over the last two weeks, bears have been more active, and yesterday’s buyers continued their bullish endeavor to challenge bears at the level that was previously advised. The impulse started to shift from the $37 hedge to the $38 hedge when a double bottom map pattern appeared.

The price of silver is above the Hull Suite forex signals index and has a histogram above zero. One of the best forex signal indicators, the QQE MOD, is currently displaying a positive signal. It will try to rise up into the $39–$40 zone if the price is higher than $38 and many people buy it. However, the price of silver may drop and test the $36 and $35 support possibilities if merchandisers are able to hold onto the $38 pricing position and the $37 support position is broken.

XAGUSD Medium-term Trend: Bullish

The 4-hour chart of the XAGUSD indicates an upward trend. A few weeks ago, at about $30, a double bottom map pattern appeared, indicating a major shift in direction. The $32 threshold is Silver’s first challenge. Exceeding the pre-established price arrestment was prohibited. Prices are currently more than $37 per unit because of the guests’ low purchasing power.

At the moment, silver is surging above the important dynamic support levels. The purchase directive is used more frequently in the QQE MOD.

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