Silver continue to move within the growth and the ascending channel. At the time of this forecast, Silver prices are at $ 28.01. Moving averages indicate a bullish trend. Prices pushed up from the area between the signal lines, which indicates pressure from buyers of the asset and a potential continuation of the asset’s value growth. 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 26.75 area. Where can we expect a rebound and continued growth in the price of Silver with a target above the level of 32.55.
XAG/USD Forecast Silver and Analysis August 19, 2020
An additional signal in favor of the growth of 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 growth will be a rebound from the lower border of the ascending channel. Cancellation of the option to raise Silver prices on August 19, 2020 will be a fall and a breakdown on 05.25. This will indicate a breakdown of the support area and a continued rise to the area below the level of 22.05. Expect acceleration in the growth of XAG/USD quotes with the breakdown of the resistance area and closing prices above the level of 29.55.
XAG/USD Forecast Silver and Analysis August 19, 2020 suggests an attempt to test the support area near the 26.75 level. Further, the continued growth of quotations with a target above the level of 32.55. Cancellation of the option of rising prices for Silver will be a fall and a breakdown of the level of 25.05. This will indicate a breakdown of the support level. In this case, we should expect the price to continue falling below the level of 22.05.
