Silver (XAGUSD) Price Retests $29 Level Before Bullish Trend Continue
Login

Silver (XAGUSD) Price Retests $29 Level Before Bullish Trend Continue

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

Azeez Mustapha

Updated:

Bulls’ pressure increase

SILVER Price Analysis – 29 August

If a lot of people are making purchases and Silver is more than $30, it will attempt to rise into the $31-$32 region. 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 positive. The decrease in customer demand resulted in a $27 price decrease from the prior month. The white metal struck its previous low at the $24 barrier level as bulls stepped up their attempts to thwart sellers’ attempts and sellers held onto the level. Last week, a large bullish daily candle emerged as the bears failed to breach below the $24 barrier level. The market surged up to $29 before beginning to rise once more. The price is currently aiming for the $30 resistance level.

Silver (XAGUSD) Price RetestsLevel Before Bullish Trend Continue

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. If a lot of people are making purchases and the price is more than $30, it will attempt to rise into the $31-$32 region. 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 incline. Last week, prices went up, first to $28 and then to $29. The $29 resistance level was breached by the white metal. The pressure from purchasers is causing the price to incline and move closer to the $30 barrier level.

Silver (XAGUSD) Price RetestsLevel Before Bullish Trend Continue At the moment, silver is trading above important dynamic support levels. More examples of the buying direction are given by the QQE MOD.

Start using a world-class auto trading solution

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