Silver continue to move through the growth and the rising channel. At the time of the publication of the forecast, the price of silver is 16.39 dollars. Moving averages indicate a short-term uptrend. At the moment, we should expect an attempt to reduce the asset and a test of the support level near the area of 16.05. Where can we expect a rebound and continued growth in the price of Silver with the target above the level of 17.30.
XAG/USD Forecast Silver and Analysis August 1, 2019
In favor of the growth of XAG/USD quotes, a test of the support line on the relative strength indicator will come out. The second signal will be a rebound from the lower boundary of the rising channel. Cancellation of the option of rising prices for Silver on August 1, 2019 will be a fall and a breakdown of 15.60. This will indicate a breakdown of the support area and the continuation of falling into the area below the level of 15.15. Expect acceleration of growth of XAG/USD quotes with the breakdown of the resistance area and closing above the level of 16.75.
XAG/USD Forecast Silver and Analysis August 1, 2019 implies an attempt to test the support area near the level of 16.05. Further, the continuation of the growth of quotations with the goal above the level of 17.30. Cancellation of the option of raising the price of silver will fall and the breakdown of the level of 15.60. This will indicate a breakdown of the support level. In this case, it is worth expecting the continuation of price cuts below the level of 15.15.
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