Silver XAG/USD is trading at the level of 16.98. Silver continues to trade above the upper boundary of the Cloud Ichimoku Kinko Hyo, which indicates the presence of an bullish trend in Silver. A test of the area of signal lines near the level of 16.80 is expected, from which one should expect an attempt at growth and the development of a bullish trend for Silver XAG/USD near the level of 17.50.
Ichimoku Kinko Hyo forecast XAG/USD on May 23, 2017
Previously, a strong signal was generated for buy Silver XAG/USD, due to the crossing of the signal lines at the level of 16.79. Canceling of the growth of Silver quotations will be a breakdown of the lower boundary of Ichimoku Kinko Hyo Cloud with the closing of quotations below the area 16.40, which will indicate the change of the bullish trend in favor of the bearish trend. Expect to accelerate the growth of quotations Silver XAG/USD stands with the breakdown of the local maximum area at the level of 17.35.
