XAGAUD @ 24°
Increase in the price of silver (AG) has risen AUD$4.09 from its low on 24 September 2020. Subsequent peaks and troughs through 17 October have remained within a 24° band. Extrapolating this sees a further increase through November with resistance at AUD$36.70 and then at AUD$37.88. The price could still go up beyond that. How far that goes I'm not sure. Several things, of course, will have an impact on that - the US election chief among them. With an efficient (and peaceful?) transition of US administrations, there won't be too much of an issue. So much so, there may even be cause to anticipate a downturn in the price of silver with downward resistance at AUD$32.40.
The extremes are just that - it's unlikely we'll see AUD$40.00 silver, and if the price rockets it'll stubbornly sit under the forty dollar mark. In the other side, a low of AUD$30.00 is not out of the question albeit unlikely.
The extremes are just that - it's unlikely we'll see AUD$40.00 silver, and if the price rockets it'll stubbornly sit under the forty dollar mark. In the other side, a low of AUD$30.00 is not out of the question albeit unlikely.
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.