Silver XAG/USD is trading at the level of 17.51. Silver continues to trade above the upper boundary of the Cloud Ichimoku Kinko Hyo, which indicates the presence of an bullish trend in Silver. Ichimoku Kinko Hyo Cloud test is expected near the level of 17.30, from which one should expect an attempt of growth and development of the bullish trend for Silver near the level of 17.90.
Technical analysis & XAG/USD forecast June 5, 2017
Previously, a strong signal was generated for Silver buying, due to the crossing of the signal lines at the level of 17.25. Cancellation of the growth of quotations of 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 17.00, which will indicate a change in the bullish trend in favor of a bearish trend. Expect to accelerate the growth of quotations XAG/USD stands with the breakdown of the local maximum area at the level of 17.70.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
