XAGUSD Forex Analysis for Today, Monday (20-05-2024)
XAGUSD Soars! Look for BUY Opportunities if Resistance Breaks!
XAGUSD Analysis
China’s Stimulus Pushes Silver Prices
The stimulus introduced by China, one of the largest consumers of precious metals including silver, has driven silver prices above $30 per troy ounce.
Monitor Resistance Area
Prices are still held at the resistance area seen on the H1 timeframe. A breakout above the resistance will increase the chances of a buy opportunity.
Prediction: STRONG XAGUSD
Resistance
- R1 31.783
- R2 31.114
- R3 32.186
- R4 32.460
Support
- S1 30.198
- S2 30.797
- S3 29.853
- S4 29.311

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