XAGUSD Forex Analysis for Today, Tuesday(21-05-2024)
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Check Opportunity to BUY XAGUSD, Monitor Support Area
XAGUSD Analysis
Silver Breaks 11-Year High
Stimulus launched by China, one of the world’s largest consumers of precious metals including silver, along with expectations of Fed rate cuts and geopolitical conditions in the Middle East, has driven silver prices to their highest level in 11 years.
Monitor Support Area
Prices are still moving in an uptrend. Monitor the support levels for confirmation of buy signals.
Forecast: STRONG XAGUSD
Resistance Levels:
- R1 31.455
- R2 30.756
- R3 31.764
- R4 32.071
Support Levels:
- S1 30.756
- S2 31.455
- S3 30.247
- S4 29.875
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