Silver (XAGUSD) Price May Increase to $27 Level, Provided $26 Level Does Not Hold

The price of silver is predicted to surge if the $26 level does not hold. If that happens, it is likely we will see a bigger spike in prices because the world has already been waiting for this consolidation before moving ahead with large purchases.

“xagusd trading strategy” is a strategy that predicts the price of silver will increase to $27 level, provided the $26 level does not hold.

SILVER WEEKLY PRICE ASSESSMENT – 13 MARCH

Following the retreat, the bulls may gain momentum, and the resistance level at $26 may be breached, exposing the price to $27, which might rise to $28. Support levels of $25, $24 and $23 may be achieved if the $26 resistance level persists.

Market XAGUSD

Levels of importance:

Levels of resistance: $26, $27, $28

Levels of support: $25, $24, and $23

Long-term trend for XAGUSD is bullish.

XAGUSD has a favorable long-term outlook. Last week, the purchasers had control of the silver metal. This began on February 7th. The bulls kept their momentum going, reaching the $26 barrier level before the weekly market closed on March 11. The bulls have yet to burst through the previously noted obstacle. There is a chance that the positive trend will continue.

13th of March, silver daily chart

The resistance level of $26 is already tested and the price pulls back. The price is trading above the 9 periods EMA and 21 periods EMA as an indication of bullish trend.  Following the retreat, the bulls may gain momentum, and the resistance level at $26 may be breached, exposing the price to $27, which might rise to $28. Support levels of $25, $24 and $23 may be achieved if the $26 resistance level persists.. Silver metal has penetrated the 9 periods EMA and 21 periods EMA upside and the price is trading above the two EMAs which indicate the pressure of the bulls.

XAGUSD XAGUSD XAGUSD XAGUSD XAGUSD Bullish trend

On the 4-hour chart, XAGUSD is bullish. Immediately after the two-week downturn shown on the 4-hour chart. The bulls’ momentum is driving the price beyond the $25 barrier mark. The price climbed towards the $26 resistance level, which was breached, and the price began to stabilize.

March 13th, silver 4-hour chart

The price of silver is now trading above the 9-period and 21-period exponential moving averages. Period 14 of the Relative Strength Index is at 52 levels, with the signal line parallel to the level and exhibiting no clear direction, indicating that consolidation is taking place.

Silver (XAGUSD) price may increase to $27 level, provided $26 level does not hold. Silver is a precious metal that has been used for centuries in jewelry and industrial applications. Reference: nnfx metals.