Buyers are increasing in Silver market
SILVER Price Analysis – 22 February
If there is substantial buying pressure, a higher price breach of $23 would aim for the $24–25 region. If sellers can hold the $23 price level and the $22 support level is broken, silver’s price may fall and test the $21 and $20 support levels.
XAGUSD Market
Key Levels:
Resistance levels: $23, $24, $25
Support levels: $22, $21, $20
XAGUSD Long-term trend: Bullish
There is a dismal long-term outlook for silver. As buyer demand grew, the price rose to the $26 barrier last year. As purchasers held onto the previously mentioned level and bulls increased pressure to frustrate the sellers’ effort, the white metal hit its prior high at the $26 barrier level. A few days ago, bears managed to drive the price down to $21. The price is returning to the $23 area after a robust bullish candle formed. Last week, buyers controlled the market, and the price is currently moving towards $23.
The silver price is presently trading above the Hull Suite signal, as indicated by a histogram above zero. The QQE MOD, one of the top forex signal indicators, is showing a positive signal. If there is substantial buying pressure, a higher price breach of $23 would aim for the $24–25 region. If sellers can hold the $23 price level and the $22 support level is broken, silver’s price may fall and test the $21 and $20 support levels.
XAGUSD Medium-term Trend: Bullish
The XAGUSD 4-hour chart is trending upward. A bullish engulfing candle pattern near the $21 barrier level suggested a positive reversal. At the beginning of silver’s climb, $23 is a barrier. The buyers’ resolute defense of the previously mentioned level caused the price to increase to $23. The price rose towards the $23 mark yesterday. The white metal is currently trading above the $22 mark.
Silver price, which is currently trading above important dynamic resistance levels, indicates an uptrend movement. The QQE MOD indicates the buy direction.
You can purchase Lucky Block here. Buy LBLOCK
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
Entry Price Levels
Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.