Silver continue to move in an upward correction. At the time of the publication of the forecast, the price of Silver is 14.38 Dollars per Troy Oz. At the moment, we should expect an attempt to test the resistance level near the 14.45 area. Where can we expect a rebound and the continuation of the fall in the price of Silver with the goal below the level of 13.85.
XAG/USD forecast Silver & analysis November 20, 2018
In favor of the fall in XAG/USD quotes, a test of the trend line on the relative strength index (RSI) will come out. As well as a rebound from the upper boundary of the descending channel. Cancellation option of falling prices for Silver will be a strong growth and the breakdown of the area 14.60. This will indicate a breakdown of the upper boundary of the channel and continued growth in the region above the level of 14.90. 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 20, 2018 involves an attempt to test the resistance area near the level of 14.45. Further, the continuation of the reduction of quotations with the target below the level of 13.85. Cancellation of the option of falling prices for Silver will be a strong growth and the breakdown of the level 14.60. This will indicate breakdown resistance. In this case, we should expect continued growth of Silver above the level of 14.90.
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