Silver (XAGUSD) Price: Bullish Trend May Continue after a Pullback

Silver retesting $33 Support level

SILVER Price Analysis – 03 April

It will try to climb up into the $35–$36 range if the price is higher than $34 and many people are buying it. If sellers are able to hold the $34 price level and the $33 support level is broken, the price of silver may decline and test the $32 and $31 support levels.XAGUSD Market

Key Levels:

Resistance levels: $34, $35, $36
Support levels: $33, $32, $31

XAGUSD Long-term trend: Bullish

The outlook on the daily silver chart is optimistic. The silver market appeared to be dominated by purchasers for a few weeks. Due to higher client demand, prices went up by $32 from the previous month. The white metal began to surge over its previous high of $32 as bulls gathered momentum and buying remained at the level. Bullish activity has persisted all day since it seems that the bulls have a lot of momentum. The market began to surge toward the $34 barrier at $28, when a double bottom chart pattern appeared.

The histogram is skewed over zero, and the price of silver is above the Hull Suite forex signals indicator. The QQE MOD, one of the top forex signal indicators, is currently showing a positive signal. It will try to climb up into the $35–$36 range if the price is higher than $34 and many people are buying it. If sellers are able to hold the $34 price level and the $33 support level is broken, the price of silver may decline and test the $32 and $31 support levels.

XAGUSD Medium-term Trend: Bullish

The 4-hour chart of the XAGUSD indicates an upward trend. A double bottom chart pattern emerged close to the $28 mark, indicating a substantial shift in direction. The $31 threshold is Silver’s first challenge. Exceeding the pre-established price cutoff was prohibited. Due to the high purchasing power of the clients, costs are currently around $34 per unit.

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

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