Silver are completing the trading week near the 27.04 area. Quotes continue to move within the correction and the upward channel. Moving averages indicate a bullish trend for the pair. Prices went up from the area between the signal lines, which indicates pressure from metal buyers and a potential continuation of growth from the current levels. At the moment, we should expect an attempt to develop a slight correction in the value of the asset and a test of the support level near the 25.35 area. Further, the continued growth in the price of Silver with a potential target above the level of 34.55.
Silver Forecast and XAG/USD Analysis February 15 — 19, 2021
A rebound from the support line on the relative strength index (RSI) will be in favor of the growth of quotations and prices for Silver in the current trading week of February 15 — 19, 2021. The second signal will be a rebound from the lower border of the ascending channel. Cancellation of the option to raise XAG/USD quotes will be a fall and a breakdown of the 19.65 area. This will indicate a breakdown of the support area and a continued fall in Silver prices with a target below the level of 14.25. Confirmation of the development of growth will be a breakdown of the resistance level and closing prices above the level of 31.65.
Silver Forecast and XAG/USD Analysis February 15 — 19, 2021 implies an attempt to test the support level near the 25.35 area. Then, Silver prices will continue to rise with a target above 34.55. A test of the trend line on the relative strength index (RSI) will be in favor of the rise. Cancellation of the XAG/USD growth option will be a fall and a breakdown of the level of 19.65. This will indicate a continued decline in quotations to the area below the level of 14.25.
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