Silver XAG/USD Analysis --- 28.10.2024
Downward Outlook for XAG/USD:
Potential support levels: $32.20-$32.15, $32.00, $31.70-$31.65.
Possible further declines towards $31.00, $30.50, and the monthly swing low near $30.00 (tested on October 8).
Upside Potential:
Immediate resistance at $33.65.
If breached, potential to reclaim $34.00 and target the $34.30-$34.35 supply zone.
Further bullish momentum could aim for the $35.00 psychological mark and challenge the October 2012 swing high around $35.35-$35.40.
Potential support levels: $32.20-$32.15, $32.00, $31.70-$31.65.
Possible further declines towards $31.00, $30.50, and the monthly swing low near $30.00 (tested on October 8).
Upside Potential:
Immediate resistance at $33.65.
If breached, potential to reclaim $34.00 and target the $34.30-$34.35 supply zone.
Further bullish momentum could aim for the $35.00 psychological mark and challenge the October 2012 swing high around $35.35-$35.40.
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