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Silver is rising toward the $33.25 level, consolidating near the upper boundary of its familiar range. The emergence of buying on pullbacks, a recent rebound from the 100-day Simple Moving Average (SMA) and 100-day Exponential Moving Average (EMA), as well as the fact that oscillators on the daily chart are beginning to turn positive, all support a short-term bullish outlook for the XAG/USD pair.
A sustained move above the $33.25 level could lead to a test of the resistance zone around $33.70. If this resistance is broken, prices would confirm a constructive bullish setup, allowing XAG/USD to target the psychological level of $34.00. Further upward movement could potentially lift the white metal toward the yearly high reached in March.
On the other hand, the $33.00 round level now acts as immediate support. Any additional corrective pullback may be seen as a buying opportunity, likely to remain limited near the $32.65 level. However, a drop below this area would expose the 100-day SMA, currently located just above the $32.00 level. A break below that level would pave the way for further losses.
If the price falls below the 200-day SMA, which is situated near the $31.40 level—considered key support—it would invalidate the bullish forecast and shift the short-term bias in favor of the bears.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
