Silver (XAGUSD) Price: Bears Opposes Bulls at $32 Point

Silver is declining

SILVER Price Analysis – 01 May

If the price is higher than $32 and a lot of people are purchasing it, it will attempt to move up into the $33–$34 zone. However, if merchandisers are able to maintain the $32 pricing position and the $31 support position is broken, the price of silver may drop and test the $30 and $29 support scenarios.

XAGUSD Market

Key Levels:

Resistance levels: $32, $33, $34

Support levels: $30, $29, $28

XAGUSD Long-term trend: Bearish

The daily chart indicates an excellent bearish outlook. For several weeks, buyers seemed to dominate the daily chart request. Prices increased by $32 from the previous month due to high client demand. When buying stayed at the position and bulls gained momentum, the white essence started to advance above its previous high of $32. Last week, Bears have a lot of incitement, bearish effort opposes bulls at the just mentioned level and this continueed throughout yesterday. When a double top map pattern emerged, the request started to move from $28 toward the $30 hedge.

The price of silver is lower than the Hull Suite forex signals index, and the histogram is positioned below zero. One of the best forex signal indicators, the QQE MOD, is currently displaying a bearish signal. If the price is higher than $32 and a lot of people are purchasing it, it will attempt to move up into the $33–$34 zone. However, if merchandisers are able to maintain the $32 pricing position and the $31 support position is broken, the price of silver may drop and test the $30 and $29 support scenarios.

 

XAGUSD Medium-term Trend: Bearish

The XAGUSD’s 4-hour map shows a downward trend. Near the $32 mark, a double top map pattern emerged last week, signifying a significant change in direction. The first obstacle for Silver is the $32 threshold. It was forbidden to go over the predetermined price arrestment. Costs are currently about $30 per unit because of the guests’ great spending power.

Silver (XAGUSD) Price: Bears Opposes Bulls at $32 Point

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

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