XAGUSD Forex Analysis for Today, Monday (22-01-2024)
Consolidation at Support: Caution for XAGUSD Decline
Middle East Conflict Holds Back Silver Decline
Safe-haven assets are sought after by investors amidst Middle East geopolitical turmoil, affecting Silver prices that continue to resist falling from the daily chart.
Consolidation of Prices at Support
Prices are still moving in a bearish bias below the trendline. Any pullback must successfully penetrate the trendline area. Sell signals can be sought again at the trendline area.
Prediction: WEAK SILVER
Resistance
- R1 23.000
- R2 22.800
- R3 23.100
- R4 23.200
Support
- S1 22.600
- S2 23.000
- S3 22.450
- S4 22.250
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