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 16.48 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 16.05. Where can we expect a rebound and continued growth in Silver prices with a target above the level of 17.15.
XAG/USD Forecast Silver and Analysis August 6, 2019
In favor of the growth of XAG/USD quotes, a test of the support line on the relative strength index (RSI) will come out. The second signal will be a rebound from the lower boundary of the ascending channel. Cancellation of the option of rising prices for Silver on August 6, 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 to accelerate the growth of XAG/USD quotes with the breakdown of the resistance area and closing above 16.85.
XAG/USD Forecast Silver and Analysis August 6, 2019 implies an attempt to test the support area near the level of 16.05. Further, the continued growth of quotations with a target above the level of 17.15. 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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