Silver Price May Increase Above $36 Level

More buyers are entering Silver market

SILVER Price Analysis – 03 July

It will try to climb up into the $37–$38 zone if the price is over $36 and a lot of people are buying it. However, the price of silver may drop and test the $34 and $33 support possibilities if merchandisers are able to hold onto the $36 pricing position and the $35 support position is broken.

XAGUSD Market

Key Levels:

Resistance levels: $36, $37, $38

Support levels: $35, $34, $33

XAGUSD Long-term trend: Bearish

The daily chart shows a very positive outlook. Since April 24, buyers seem to have taken the lead in daily chart requests. Prices increased by $33 over the previous month because to strong consumer demand, but the white essence started to surge as buying remained stable and bulls gained ground. Over the last two days, bulls have been very active, and yesterday they continued their bullish endeavor to fight bears at the level that was previously advised. The request started to shift from the $35 hedge to the $36 hedge when a double top map pattern appeared.

The price of silver is above the Hull Suite forex signals index, and the histogram is above zero. One of the best forex signal indicators, the QQE MOD, is currently displaying a positive signal. It will try to climb up into the $37–$38 zone if the price is over $36 and a lot of people are buying it. However, the price of silver may drop and test the $34 and $33 support possibilities if merchandisers are able to hold onto the $36 pricing position and the $35 support position is broken.

 

XAGUSD Medium-term Trend: Bullish

The 4-hour chart of the XAGUSD indicates an upward trend. 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 $35 per unit because of the guests’ restricted purchasing power.

At the moment, silver is trading below above the important dynamic support levels. Buy directive is used more often in the QQE MOD.

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