Silver (XAGUSD) Price Is Struggling to Break Up $22 Level
Login

Silver (XAGUSD) Price Is Struggling to Break Up $22 Level

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Buyers may continue to hold Silver market

SILVER Price Analysis – 29 February

Should there be significant buying pressure, a price breach of $22 would target the $23–24 range. Silver’s price may drop and test the $20 and $19 support levels if sellers can maintain the $22 price level and the $21 support level is breached.

XAGUSD Market

Key Levels:

Resistance levels: $22, $23, $24

Support levels: $21, $20, $19

XAGUSD Long-term trend: Bullish

Silver’s long-term prospects are bleak. The price last year broke through the $26 barrier as buyer demand increased. The white metal reached its previous high at the $26 barrier level as buyers held onto the previously mentioned level and bulls boosted pressure to thwart the sellers’ efforts. Bears were able to push the price down to $21 a few days ago. Price is moving back toward the $22 region following the formation of a strong bullish candle. The market was dominated by purchasers last week, and the price is currently testing $22 level.

Silver (XAGUSD) Price Is Struggling to Break UpLevel

A histogram above zero shows that the silver price is currently trading above the Hull Suite signal. One of the best indicators for forex signals, the QQE MOD, is currently displaying a positive signal. Should there be significant buying pressure, a price breach of $22 would target the $23–24 range. Silver’s price may drop and test the $20 and $19 support levels if sellers can maintain the $22 price level and the $21 support level is breached.

XAGUSD Medium-term Trend: Bullish

The 4-hour chart of XAGUSD shows an upward trend. A good turnaround was signaled by a bullish engulfing candle pattern close to the $21 barrier level. $23 is a barrier at the start of silver’s ascent.  The price rose to $23 as a result of the buyers’ steadfast preservation of the previously stated amount. The price increased yesterday, approaching $22. Right now, the white metal is trading higher than $21 level.

Silver (XAGUSD) Price Is Struggling to Break UpLevel

The price of silver is showing signs of an upward trend as it is presently trading above significant dynamic resistance levels. The buy direction is indicated by the QQE MOD.

You can purchase Lucky Block here. Buy LBLOCK

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
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.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News