empty
 
 
in
सहायता
तुरंत खाता खोलना
ट्रेडिंग प्लेटफॉर्म
जमा/ निकासी

20.09.202417:03 विदेशी मुद्रा विश्लेषण और समीक्षा: XAG/USD: Analysis and Forecast

Exchange Rates 20.09.2024 analysis

Today, silver has attracted buyers for the second consecutive day, maintaining its gains above the key $31.00 level, near a two-month high.

From a technical perspective, the recent breakout above the 100-day Simple Moving Average (SMA) has been interpreted as a new bullish trigger. Additionally, buying activity during yesterday's decline, paired with positive oscillators on the daily chart, suggests that the path of least resistance for XAG/USD is upward.

The positive outlook is further supported by the fact that silver has held above the $31.00 round level. Consequently, a move beyond the intermediate resistance at $31.45, towards the July high near $31.75 and the key $32.00 level, appears likely. The momentum may continue, possibly enabling silver to challenge the ten-year high reached in May.

On the other hand, weakness below the $31.00 level will encounter strong support around $30.70. Any further decline could still be viewed as a buying opportunity, as long as the price remains above the psychological level of $30.00. Additional selling pressure may weaken the buyers, and a convincing break below this level could accelerate the decline, dragging XAG/USD towards $29.45 and testing the next significant support at $29.00. A move below this level would turn the market sentiment in favor of the bears.

Exchange Rates 20.09.2024 analysis

*यहां पर लिखा गया बाजार विश्लेषण आपकी जागरूकता बढ़ाने के लिए किया है, लेकिन व्यापार करने के लिए निर्देश देने के लिए नहीं |

Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.

अभी बात नहीं कर सकते?
अपना प्रश्न पूछें बातचीत.