Silver Weekly Forecast and Analysis May 11 — 15, 2020


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Silver complete the trading week near the area of ​​15.50. Quotes continue to move within the bullish correction and the downward channel. At the moment, we should expect an attempt to continue the growth of the asset value and a test of the resistance level near the area of ​​16.15. Further, the beginning of the fall in the price of Silver with a potential target below the level of 11.75.

Silver Weekly Forecast and Analysis May 11 — 15, 2020

In favor of falling quotes and Silver prices in the current trading week May 11 — 15, 2020 a test of the resistance line on the relative strength index (RSI) will come out. The second signal will be a rebound from the upper boundary of the downward channel. Cancellation of the option to reduce XAG/USD quotes will be a strong growth and a breakdown of the area of ​​17.15. This will indicate a breakdown of the upper border of the downward channel and continued growth in Silver prices with a target above the level of 17.95. A confirmation of the development of the downward trend will be a breakdown of the support area and closing below 13.85. This will indicate an acceleration in the fall of the price of Silver.

Silver Weekly Forecast and Analysis May 11 — 15, 2020

Silver Weekly Forecast and Analysis May 11 — 15, 2020 implies an attempt to test the resistance level near the area of ​​16.15. Then, the continuation of the fall in Silver prices with a target below the level of 11.75. A test of the trend line on the relative strength index (RSI) will be in favor of the decline. Cancellation of the option to fall XAG/USD will be a strong growth and the breakdown level of 17.15. This will indicate continued growth in quotations to the area above the level of 17.95.


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