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 17.23 Dollars. Moving averages indicate a short-term uptrend. At the moment, we should expect an attempt to correct the metal and test the support level near the area of 16.65. Where can we expect a rebound and continued growth in the price of Silver with a target above the level of 18.05.
XAG/USD Forecast Silver and Analysis August 16, 2019
In favor of the growth of XAG/USD quotes, a test of the rising support line on the relative strength index (RSI) will come out. The second signal will be a rebound from the lower border of the bullish channel. Cancellation of the option of rising Silver prices on August 16, 2019 will be a fall and a breakdown of 16.35. This will indicate a breakdown of the lower boundary of the ascending channel and continued fall into the area below the level of 15.95. Expect to accelerate the growth of XAG/USD quotes with the breakdown of the resistance area and closing above the level of 17.40.
XAG/USD Forecast Silver and Analysis August 16, 2019 implies an attempt to test the support area near the level of 16.65. Further, the continued growth of quotations with a target above the level of 18.05. Cancellation of the option of raising prices for Silver will be a fall and a breakdown of the level of 16.35. This will indicate a breakdown of the support level. In this case, we should expect continued decline in prices below the level of 15.95.
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