Silver (XAGUSD) Price Rebounds at $26 Level
Login

Silver (XAGUSD) Price Rebounds at $26 Level

Estimated Reading Time: 3 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Buyers’ pressure is increasing in Silver market

SILVER Price Analysis – 09 May

Should substantial buying activity be observed, a price breach of $28 would aim for the $29–30 region. If sellers can hold the $28 price level and the $27 support level is broken, silver’s price may fall and test the support levels of $26 and $25 levels.

XAGUSD Market

Key Levels:

Resistance levels: $28, $29, $30

Support levels: $27, $26, $25

XAGUSD Long-term trend: Bullish

The long-term picture for silver is good. When customer demand surged last month, Silver price went up by over $29. The white metal hit its previous high at the $29 barrier level as buyers held onto the level as bulls stepped up their efforts to frustrate sellers’ attempts. Two weeks ago, Bulls failed to break over the $29 barrier level, and a strong daily bearish candle developed. As a result, the market declined and tested $26 level. After hitting $26 level, the price of silver rebounded and currently heading toward the previous high.

Silver (XAGUSD) Price Rebounds atLevel

The silver price can overcome the Hull Suite forex signals indicator when the ascending histogram is above zero. The QQE MOD, one of the greatest indicators for forex signals, is currently showing a bullish signal. Should substantial buying activity be observed, a price breach of $28 would aim for the $29–30 region. If sellers can hold the $28 price level and the $27 support level is broken, silver’s price may fall and test the support levels of $26 and $25 levels.

XAGUSD Medium-term Trend: Bullish

XAGUSD 4-hour chart exhibits an inclining trend. At the $29 barrier level, a bearish pattern developed, signaling a significant shift in direction. The initial barrier to silver’s decline is $28.  Owing to the sellers’ unshakable commitment, the price exceeded the initial amount that was agreed upon. The price dropped by more than $27 last week after surpassing $28. The $27 support level was breached by the white metal. Bears could not hold the position and the price is currently bouncing towards $28 level.

Silver (XAGUSD) Price Rebounds atLevel

Silver is currently rising and trading above significant dynamic resistance levels. The buy direction is also 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