Silver (XAGUSD)Long
Silver Price Setup = Major Move Ahead?
Silver (XAG/USD) Analysis – Breakout Incoming?
Silver (XAG/USD) is currently testing a key resistance zone after a strong upward move, supported by a rising trendline. The price has respected this trendline multiple times, confirming its role as a strong support level. If bulls push beyond the resistance zone, a breakout could trigger further upside momentum.
Key Insights:
🔹 Trendline Support – The ascending trendline has acted as a strong base for price action, providing steady higher lows.
🔹 Key Resistance Zone – Price has faced multiple rejections here in the past, making it a crucial breakout level.
🔹 Potential Breakout Setup – If Silver breaks and holds above resistance, we could see a rally towards $31.50–$32.50+
Silver (XAG/USD) is currently testing a key resistance zone after a strong upward move, supported by a rising trendline. The price has respected this trendline multiple times, confirming its role as a strong support level. If bulls push beyond the resistance zone, a breakout could trigger further upside momentum.
Key Insights:
🔹 Trendline Support – The ascending trendline has acted as a strong base for price action, providing steady higher lows.
🔹 Key Resistance Zone – Price has faced multiple rejections here in the past, making it a crucial breakout level.
🔹 Potential Breakout Setup – If Silver breaks and holds above resistance, we could see a rally towards $31.50–$32.50+
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.