Silver (XAGUSD) Price May Surpass $30 Resistance Level

Buyers’ gain enough momentum

SILVER Price Analysis – 12 September

It will try to climb up into the $31–$32 zone if Silver is more than $30 and a lot of people are buying it. If sellers are able to maintain the $30 price level and the $29 support level is broken, silver’s price may fall and test the $28 and $27 support levels.

 

XAGUSD Market

Key Levels:

Resistance levels: $30, $31, $32

Support levels: $29, $28, $27

XAGUSD Long-term trend: Bullish

Silver’s long-term outlook is promising. The decrease in customer demand led to a $27 price decrease from the prior month. The white metal hit the $24 barrier level, which was its previous low, when sellers remained on the level and bulls stepped up to impede them. When the bears failed to break through below the $27 barrier level last week, a large bullish daily candle developed. The market surged to $29 before beginning to rise once more. The price is currently attempting to break through $30 barrier level.

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 $31–$32 zone if the price is more than $30 and a lot of people are buying it. If sellers are able to maintain the $30 price level and the $29 support level is broken, silver’s price may fall and test the $28 and $27 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 trend. Last week, prices went up, first to $28 and then to $29. The $29 resistance level was breached by the white metal. Because of the pressure from buyers, the price is approaching closer to the $30 barrier level.

At the moment, silver is trading above important dynamic support levels. Additional examples of the purchasing direction can be found in the QQE MOD.

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