Silver continue to move as part of the decline. At the time of the publication of the forecast, the price of Silver is $ 17.93. Moving averages indicate an uptrend. Prices are testing the area between the signal lines, which indicates pressure from buyers and a likely rebound from current levels. At the moment, we should expect an attempt to develop a decrease in the cost of metal and a test of the support level near the area of 17.75. Where can we expect a rebound and continued growth in the price of Silver with a target above the level of 19.55.
XAG/USD Forecast Silver and Analysis January 16, 2020
An additional signal in favor of rising quotes and prices for XAG/USD Silver will be a test of the trend line on the relative strength index (RSI). The second signal in favor of the rise will be a rebound from the lower boundary of the ascending channel. Cancellation of the option of rising Silver prices on January 16, 2020 will be a fall and a breakdown of 17.25. This will indicate a breakdown of the support area and continued decline to the area below the level of 16.85. Expect to accelerate the growth of XAG/USD quotes with the breakdown of the resistance area and closing above 18.35.
XAG/USD Forecast Silver and Analysis January 16, 2020 suggests an attempt to test the support area near the level of 17.75. Further, the continued growth of quotations with a target above the level of 19.55. Cancellation of the option of rising prices for Silver will be a fall and a breakdown of the level of 17.25. This will indicate a breakdown of the support level. In this case, we should expect continued decline in prices below the level of 16.85.
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