Silver XAG/USD is trading at the level of 17.28. Silver continues to trade above the upper boundary of the Cloud Ichimoku Kinko Hyo, which indicates the presence of an bullish trend in Silver. The Ichimoku Kinko Hyo Cloud upper limit test is expected near the level of 17.10, from which one should expect an attempt of growth and development of the bullish trend over the Silver near the level of 17.60.
Silver XAG/USD forecast on June 1, 2017
Previously, a strong signal was generated for Silver buying, due to the crossing of the signal lines at the level of 16.79. Canceling of the growth of quotations of the Silver will be a breakdown of the lower boundary of the Cloud of Ichimoku Kinko Hyo with the closing of quotes below the area of 16.80, which will indicate the change of the bullish trend in favor of the bearish trend. Expect to accelerate the growth of quotations XAG/USD stands with the breakdown of the local maximum area at the level of 17.45.
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