Silver prices registered solid gains of 1.45% on Wednesday, as the US Federal Reserve kept monetary policy unchanged while upwardly reviewing its inflation expectations and adjusted its estimates for the federal funds rate.
Silver rises 1.45% as Fed leaves policy unchanged, adjusts inflation outlook, and anticipates one rate cut. XAG/USD shows a double-top pattern indicating potential declines; initial support at $29.00. Resistance at $30.05; surpassing this could target recent highs, though buyers continue to face challenges. As the US central bank projects one rate cut, the XAG/USD trades at $29.59, down 0.29% as Thursday’s Asian session begins.
74, and subsequently to the June 10, 2021, high of $28.34. The final target is the double top objective at $27.80. Conversely, if XAG/USD moves upwards and closes above $29.00, it could challenge the May 24 low, which has turned into resistance at $30.05. Buyers are struggling to reclaim $30.00, indicating potential for further downside. XAG/USD Price Action – Daily Chart XAG/USD Overview Today last price 29.64 Today Daily Change 0.36 Today Daily Change % 1.23 Today daily open 29.
XAGUSD Metals Technical Analysis Silver
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