XAGUSD SELL Potential: Still Below Trendline
XAGUSD Analysis
Silver Stabilizes but Remains Under Pressure
The price of silver has stabilized but remains under pressure as the USD continues to strengthen. Meanwhile, market participants are awaiting the US non-farm payrolls report and other preliminary data such as the US ISM manufacturing PMI.
Still Below Trendline
Silver prices are still moving below the descending trendline as seen on the H1 time frame. A breakdown below the support area has been observed, marking a break of structure (BoS). Selling signals can be confirmed if a pullback to this BoS area occurs.
Prediction: WEAK XAGUSD
Resistance Levels
- R1 30.000
- R2 29.800
- R3 29.600
- R4 29.400
Support Levels
- S1 29.159
- S2 28.213
- S3 27.748
- S4 27.282
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