Silver Price Prediction: XAG/USD bulls seize control above $29.20 confluence breakpoint
Adding to this, the emergence of dip-buying near the aforementioned confluence resistance breakpoint, now turned support, also supports prospects for a further near-term appreciating move. Hence, a subsequent strength beyond the 61.8% Fibo. level, around the $29.75 region, en route to the $30.00 psychological mark, looks like a distinct possibility. The momentum could extend towards the $30.55-$30.60 area, or the 78.6% Fibo. level.
On the flip side, the $29.20 area now seems to protect the immediate downside ahead of the $29.00 round-figure mark. Some follow-through selling could make the XAG/USD vulnerable to accelerate the slide towards the $28.55 region, or the 38.2% Fibo. level, en route to the $28.00 round figure. The latter should act as a key pivotal point, which if broken might expose the $27.25 support before the metal drops back to test the $27.00 mark.
REGISTRATION LINK 👇🏻
https://one.exnesstrack.net/boarding/sign-up/a/uq2cbl5o/?campaign=24533
