XAGUSD Forex Analysis for Today – Monday, August 12, 2024
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Check the Potential to SELL XAGUSD: Still Held at Resistance Area
Analysis of XAGUSD
Concerns about Global Slowdown Restrain Silver’s Strength
Silver prices saw a lift towards the end of last week, but the potential for a global economic slowdown, which could impact demand from the industrial sector, is holding back price gains.
Held at Resistance
Price gains are being restrained by the resistance area visible on the H1 time frame. Selling opportunities may be sought in this zone.
Prediction: Weak XAGUSD
Resistance Levels
- R1: 28.500
- R2: 28.000
- R3: 27.500
- R4: 27.000
Support Levels
- S1: 27.809
- S2: 27.155
- S3: 26.834
- S4: 26.488
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