π XAGUSD (Silver) Price Forecast π
Silver has formed a Double Bottom chart pattern at the bottom of the chart, signaling a potential trend reversal. The neckline breakout has already occurred, and the price is now consolidating at the retracement of the neckline around 30.00.
This reversal pattern is further supported by increasing buying volume, indicating that buyers are gaining strength. The market is expected to push higher toward the next technical targets.
π― Technical Target Levels:
- 30.50
- 30.95
- 31.40
- 32.05 (Final target)
π Key Highlights:
- Double Bottom pattern confirmed with neckline breakout.
- Consolidation around 30.00 suggests a strong base for further upward movement.
- Buyers showing dominance with increased volume.
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