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Silver (XAGUSD) Price Tests $24 Level, What Else? – Cryptovibes.com – Daily Cryptocurrency and FX News

Silver (XAGUSD) Price Tests $24 Level, What Else? – Cryptovibes.com – Daily Cryptocurrency and FX News


SILVER Weekly Price Analysis – October 24

In case the resistance level of $24 holds, price may reverse and face the support levels of $23, $22 and $21. Bullish movement may continue if the resistance level of $24 is penetrated upside and the price may increase to $25 and $26 resistance levels.

XAGUSD Market

Key Levels:

Resistance levels: $24, $25, $26

Support levels: $23, $22, $21, $19

XAGUSD Long-term trend: Bullish

XAGUSD is bullish on the long-term outlook. The formation of an inverted “Head and Shoulder” chart pattern on the daily chart triggers a bullish trend. The price broke up $22 level aimed at $23 resistance level on October 19. It pulled back before the closing of the last week market. Yesterday, the price increased to test a significant level of $24 and pulled back before weekly market closed.

Silver daily chart, October 24

The fast moving Average (9 periods EMA) is above the slow moving Average (21 periods EMA). Silver is trading above the 9 periods EMA and 21 periods EMA which indicates that bulls are in control of the Silver’s market. In case the resistance level of $24 holds, price may reverse and face the support levels of $23, $22 and $21. Bullish movement may continue if the resistance level of $24 is penetrated upside and the price may increase to $25 and $26 resistance levels.

XAGUSD Medium-term Trend: Bullish

XAGUSD is on the bullish movement on 4-hour chart. When Silver bounced up at the support level of $21 on September 29, the bulls have never give room for the bears to dominate. It increases to $22 price level and consolidated for many days. On October 13, it broke up the $22 level and make higher highs towards $23 price level. Last week, buyers’ pressure increased and the price broke up $23 level to test the $24 resistance level.

Monero 4-hour chart, October 24

Silver price is trading above the 9 periods EMA and 21 periods EMA. The Relative Strength Index period 14 is below 70 levels with the signal line displaying bearish signal.



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