Silver Forecast: Potential Price Rise Ahead
The price of silver is testing a very important supporting level of 30.00, trying to form an engulfing at the same time. Once the formation of the engulfing is completed, the price of this asset might potentially rise, form a bullish flag, and achieve the historical maximum points again. So, let’s observe whether this scenario might work out.
The price of the currency pair USD/CAD broke the upper side of the flag. Currently, the asset’s price is testing this broken side. The price of this currency pair might potentially rebound, rise, and target the resistance level of 1.3900.
The price of the Japanese yen broke the wedge and rebounded from its broken side. The price of this asset is likely to drop and gain the required support at the level of 151.94. Next, the asset’s price might potentially rebound from this support and rise again. So, let’s observe what the next price movement of the Japanese yen might be.
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