Silver Price Is Testing $35 Barrier

Silver price is targeting $36 point

SILVER Price Analysis – 05 June

It will try to climb up into the $35–$36 range if the price is greater than $34 and many people are buying it. The price of silver might drop and test the $32 and $30 support scenarios, though, if merchandisers are able to hold onto the $34 pricing position and the $33 support position is broken.

XAGUSD Market

Key Levels:

Resistance levels: $34, $35, $36

Support levels: $33, $32, $30

XAGUSD Long-term trend: Bullish

The daily chart indicates a strong bullish outlook. Since April 24, purchasers seem to have dominated the daily chart request. Prices increased by $32 over the previous month because of strong consumer demand, but the white essence started to rise as buying remained stable and bulls gained ground. Over the last two days, bulls have been very active, and yesterday they continued their bullish effort to confront bears at the level that was previously suggested. The request started to shift from $32 toward the $33 hedge when a double bottom map pattern appeared.

The price of silver is higher than the Hull Suite forex signals index, and the histogram is above zero. One of the best forex signal indicators, the QQE MOD, is presently displaying a positive signal. It will try to climb up into the $35–$36 range if the price is greater than $34 and many people are buying it. The price of silver might drop and test the $32 and $30 support scenarios, though, if merchandisers are able to hold onto the $34 pricing position and the $33 support position is broken.

XAGUSD Medium-term Trend: Bullish

The 4-hour chart of the XAGUSD indicates an upward trend. Last week, 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. Because of the guests’ significant purchasing power, prices are currently around $33 per unit.

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

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