Silver Price Forecast: Analyzing XAG/USD Technicals and Bullish Potential
Tuesday, 1 October 2024, 20:34
Silver Price Trends and Technical Analysis
Current market dynamics show that silver is maintaining its position just under the mid-$31.00s. The XAG/USD pair has demonstrated resilience in the face of market fluctuations. Analysts are observing critical technical indicators that suggest a potential for upside movement.
Resistance and Support Levels
- Immediate Resistance: $32.25
- Multi-Year Peak: $32.70
- Current Trading Range: Mid-$31.00s
If traders see sustained strength beyond the mid-$31.00 mark, we could witness XAG/USD pushing towards $32.25, potentially challenging the multi-year peak of $32.70 that was reached last week.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.