Silver Price May Increase Above $36 Level

More buyers are entering Silver market

SILVER Price Analysis – 26 June

If the price is higher than $36 and many people are purchasing it, it will attempt to move up into the $37–$38 range. However, if merchandisers can maintain the $36 pricing position and the $35 support position is broken, the price of silver might decline and test the $34 and $33 support possibilities.XAGUSD Market

Key Levels:

Resistance levels: $36, $37, $38
Support levels: $35, $34, $33

XAGUSD Long-term trend: Bearish

The outlook on the daily chart is extremely optimistic. Purchasers appear to have seized the lead in daily chart requests since April 24. Strong consumer demand caused prices to rise by $33 over the previous month, but as buying stayed steady and bulls gained ground, the white essence began to soar. Bulls have been extremely active over the past two days, and yesterday they persisted in their bullish attempt to challenge bears at the previously recommended level. When a double bottom map pattern emerged, the request began to move from the $35 hedge toward the $36 hedge.

The histogram is above zero, and the price of silver is above the Hull Suite forex signals index. The QQE MOD, one of the top forex signal indicators, is currently showing a positive signal. If the price is higher than $36 and many people are purchasing it, it will attempt to move up into the $37–$38 range. However, if merchandisers can maintain the $36 pricing position and the $35 support position is broken, the price of silver might decline and test the $34 and $33 support possibilities.

XAGUSD Medium-term Trend: Bearish

The XAGUSD’s 4-hour chart shows an inclining trend. A double top map pattern emerged last week at around $30, signaling a significant change in direction. The first obstacle for Silver is the $32 threshold. It was forbidden to go over the predetermined price arrestment. Due to the guests’ limited purchasing power, prices are now above $36 per unit.

Silver is currently trading above the significant dynamic support levels. The QQE MOD makes more use of the sale directive.

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