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 15.96 Dollars. Moving averages indicate a short-term uptrend. At the moment, we should expect an attempt to reduce the asset and test the support level near the area of 15.75. Where can we expect a rebound and continued growth in the price of Silver with a target above the level of 17.05.
XAG/USD Forecast Silver and Analysis August 2, 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 2, 2019 will be a fall and a breakdown of 15.55. This will indicate a breakdown of the lower boundary of the ascending channel and continued fall into the area below the level of 15.05. 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 2, 2019 implies an attempt to test the support area near the level of 15.75. Further, the continued growth of quotations with the target above the level of 17.05. Cancellation of the option of raising prices for Silver will be a fall and a breakdown of the level of 15.55. This will indicate a breakdown of the support level. In this case, we should expect continued decline in prices below the level of 15.05.
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