Silver complete the trading week near the area of 18.54. Quotes continue to move in the framework of growth and the rising channel. At the moment, we should expect an attempt to fall and test the support level near the area of 17.65. Further, the beginning of the growth in the price of Silver with a potential target above the level of 20.45.
Silver Weekly Forecast and Analysis February 24 — 28, 2020
In favor of the growth of quotations and prices for Silver in the current trading week February 24 — 28, 2020, a test of the support line on the relative strength index (RSI) will come out. The second signal will be a rebound from the lower boundary of the ascending channel. Cancellation of the option of raising the XAG/USD quotes will be a fall and a breakdown of the area of 16.60. This will indicate a breakdown of the upper lower descending channel and a continued fall in Silver prices with a target below the level of 15.75. The development of the upward trend will be confirmed by the breakdown of the resistance area and closing above the level of 18.65. This will indicate an acceleration in the growth of the price of Silver.
Silver Weekly Forecast and Analysis February 24 — 28, 2020 suggests an attempt to test the support level near the area of 17.65. Then continued growth in Silver prices with a target above the level of 20.45. A test of the trend line on the relative strength index (RSI) will be in favor of the rise. Cancellation of the growth option XAG/USD will be a fall and a breakdown of the level of 16.60. This will indicate a continued decline in quotations to the area below the level of 15.75.
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