Silver complete the trading week near the 14.28 area. Quotes continue to move within the bearish channel. At the moment, we should expect an attempt to grow and test the resistance level near the 14.65 area. Further, the beginning of the fall in the price of XAG/USD with a potential target below 12.90.
Silver weekly forecast & analysis November 19 — 23, 2018
In favor of reducing the quotes and prices for Silver in the current trading week November 19 — 23, 2018, a test of the trend line on the relative strength index (RSI) will come out. The abolition of the option of falling XAG/USD quotes will be a strong growth and the breakdown of the 15.20 area. This will indicate a breakdown of the upper boundary of the downward channel and the continuation of the rise in Silver prices with a target above the level of 16.00. Confirmation of the downward trend will be the breakdown of the support area and the closure below 13.70. This will indicate an acceleration in the fall in the price of Silver.
Silver weekly forecast & analysis November 19 — 23, 2018 involves an attempt to test the resistance level near the 14.65 area. Then continue to fall in the price of Silver with the target below the level of 12.90. The trend line test on the relative strength indicator will be in favor of the decline. Cancellation of the option of falling XAG/USD will be a strong growth and the breakdown level of 15.20. This will indicate continued growth of quotations in the area above the level of 16.00.