Silver XAG/USD continues to move in frames of the fall. At the time of the publication of the forecast, the price for Silver is 14.29. At the moment, we should expect an attempt to test the lower boundary of the ascending channel near the area of 14.45. Where can we expect a rebound and the continuation of the fall in the price of Silver with the target below the level of 14.00.
XAG/USD forecast Silver & analysis November 1, 2018
In favor of the fall in XAG/USD quotes, a test of the trend line on the relative strength index (RSI), as well as a resistance level test on the price chart, will come out. Cancellation of the option of falling prices for Silver will be a strong growth and a breakdown of the area of 14.55, which will indicate a breakdown of the channel boundary and continued growth in the area above the level of 14.75. Expect confirmation of a fall in XAG/USD quotes with the breakdown of the support area and closing below 14.20.
XAG/USD forecast Silver & analysis November 1, 2018 involves an attempt to test the resistance area near the level of 14.45 and continue falling quotations with a target below 14.00, canceling the option of falling Silver prices will make a strong growth and a breakdown of 14.55, which will indicate a breakdown resistance, in this case, we should expect continued growth of Silver above the level of 14.75.