Silver (XAGUSD) Price Is Approaching $32 Mark

Resistance level of $32 may be surpassed

SILVER Price Analysis – 26 September

Silver will try to climb up into the $33–$34 zone if the price is more than $32 and a lot of people are buying it. If sellers are able to maintain the $32 price level and the $31support level is broken, silver’s price may fall and test the $30 and $29 support levels.

XAGUSD Market

Key Levels:

Resistance levels: $32, $33, $34

Support levels: $31, $30, $29

XAGUSD Long-term trend: Bullish

Silver’s long-term outlook appears favorable. Due to a drop in customer demand, prices decreased by $29 over the previous month. The white metal struck the previous low of $24 as selling continued on the level and bulls stepped in to halt them. The last two weeks saw the formation of a large bullish daily candle as the bears failed to break through below the $27 barrier level. The market surged to $29 before beginning to rise once more. The price is currently attempting to surpass the $32 mark.

The histogram is skewed over zero in addition to the silver price being above the Hull Suite forex signals indication. The QQE MOD, one of the strongest indicators for forex signals, is showing a bullish signal right now. It will try to climb up into the $33–$34 zone if the price is more than $32 and a lot of people are buying it. If sellers are able to maintain the $32 price level and the $31support level is broken, silver’s price may fall and test the $30 and $29 support levels.

 

XAGUSD Medium-term Trend: Bullish

The 4-hour chart of XAGUSD exhibits an inclining trend. At the $27 barrier level, a bullish engulfing pattern developed, signaling a significant shift in direction. The $28 threshold is the first barrier to silver’s upward trajectory. Last week, prices went up, first to $28 and then to $29. The $29 resistance level was breached by the white metal. Due to demand from customers, prices are approaching the $32 mark.
At the moment, silver is trading above important dynamic support levels. There are additional examples of the purchasing direction in the QQE MOD.

Start using a world-class auto trading solution

.You can purchase Lucky Block here. Buy LBLOCK