Silver continue to move as part of the correction and the downward channel. At the time of the publication of the forecast, the price of Silver is $ 14.38. Moving averages indicate a bearish trend. Prices are testing the area between the signal lines, which indicates pressure from asset sellers and a potential drop already from current levels. At the moment, we should expect an attempt to develop a correction in the value of the metal and a test of the resistance level near the area of 14.95. Where can we expect a rebound and the continuation of the fall in the price of Silver with a target below the level of 11.40.
XAG/USD Forecast Silver and Analysis April 3, 2020
An additional signal in favor of falling quotes and prices for XAG/USD Silver will be a test of the resistance line on the relative strength index (RSI). The second signal in favor of the decline will be a rebound from the upper boundary of the downward channel. Cancellation of the option of falling Silver prices on April 3, 2020 will be a strong growth and a breakdown of 16.20. This will indicate a breakdown of the resistance area and continued growth to the area above the level of 17.05. Expect to accelerate the fall in XAG/USD quotes with the breakdown of the support area and closing below 13.60.
XAG/USD Forecast Silver and Analysis April 3, 2020 suggests an attempt to test the resistance area near the level of 14.95. Further, the continuation of the fall of quotations with the target below the level of 11.40. Cancellation of the option of reducing the price of Silver will be a strong growth and the breakdown of the level of 16.20. This will indicate a breakdown of the resistance level. In this case, we should expect the continuation of the rise in prices above the level of 17.05.
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