💡SILVER (XAGUSD) - Weekly Technical Analysis Update

FOREXCOM:XAGUSD   Silver / U.S. Dollar
Midterm forecast:
While the price is above the support 21.90, resumption of uptrend is expected.
We make sure when the resistance at 29.85 breaks.
If the support at 21.90 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
A trough is formed in daily chart at 25.88 on 02/04/2021, so more gains to resistance(s) 27. 40 , 28.45 and maximum to Major Resistance (29.85) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index ( RSI ) is 57.

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+1 Reply
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ForecastCity Best_Forecast
@Best_Forecast, Thanks for your support 🌹
Good work, will be interesting to see where this goes.
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ForecastCity newgenforex
@newgenforex, Thanks. We hope you enjoy it 🌹
I’m new to this but highly interested
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@Darek25, Thanks for your lovely comment. We hope you enjoy it. 🌹
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