XAGUSD Forex Analysis for Today, Thursday (08-08-2024)
Check SELL Opportunity for XAGUSD Now! Symmetrical Pattern Confirmed!
XAGUSD Analysis
Silver Still Pressured by Economic Slowdown
Silver remains under pressure due to ongoing concerns about a slowdown in the industrial sector. Additionally, the dollar index has rebounded from a six-month low as US 10-year treasury yields rise.
Potential Symmetrical Triangle
A symmetrical triangle pattern is visible on the H1 time frame. A pullback is seen to the lower line area of the pattern.
Prediction: WEAK XAGUSD
Resistance
- R1 29.000
- R2 28.500
- R3 28.000
- R4 27.500
Support
- S1 27.291
- S2 26.257
- S3 25.735
- S4 25.227
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