XAGUSD 12 Apr 2024 In the analysis of XAGUSD on the weekly timeframe, it can be seen that silver continues to experience a significant bullish trend, taking it well above the Kumo Cloud and successfully reaching the price position of 28,759. Despite being in a saturated zone on the Stochastic Indicator, the moving average chart is still showing a rise, signaling that the bullish momentum is still strong. Therefore, although there is potential for a price correction in the shorter term due to the overbought state, the long-term trend of silver remains to be bullish. Traders may wish to consider looking for buying opportunities after any correction or pullback, while maintaining proper risk management.
