Silver continue to move as part of the growth and upward channel. At the time of the publication of the forecast, the price of Silver is 15.19 Dollars. Moving averages indicate a bullish trend. Prices are testing the area between the signal lines, which indicates pressure from the side of the asset buyers and the potential continuation of the rise 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 support level near the area of 15.05. Where can we expect a rebound and the continuation of the rise in the price of Silver with a target above the level of 16.35.
XAG/USD Forecast Silver and Analysis April 30, 2020
An additional signal in favor of falling quotes and prices for XAG/USD Silver will be a test of the support line on the relative strength index (RSI). The second signal in favor of lowering will be a rebound from the lower boundary of the Triangle model. Cancellation of the option of raising the price of Silver on April 30, 2020 will be a strong fall and a breakdown of 14.55. This will indicate a breakdown of the support area and continued decline to the area below the level of 13.95. Expect to accelerate the rise in XAG/USD quotes with the breakdown of the resistance area and closing prices above 15.55.
XAG/USD Forecast Silver and Analysis April 30, 2020 suggests an attempt to test the support area near the level of 15.05. Further, the continuation of the rise of quotations with the target above the level of 16.35. Cancellation of the option of rising prices for Silver will be a fall and a breakdown of the level of 14.55. This will indicate a breakdown of the support level. In this case, we should expect continued decline in prices below 13.95.
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