Silver continue to move in the framework of the decline and the bearish channel. At the time of the publication of the forecast, the price of Silver is 15.21 Dollars. Moving averages indicate a short-term downward trend. At the moment, we should expect an attempt to grow the asset and test the resistance level near the area of 15.30. Where can we expect a rebound and continue to reduce the price of Silver with a target below the level of 14.50.
XAG/USD Forecast Silver and Analysis July 12, 2019
In favor of the fall in XAG/USD quotes, a test of the resistance line on the relative strength indicator will come out. The second signal will be a rebound from the upper boundary of the downward channel. Cancellation of the option of falling prices for Silver July 12, 2019 will be a strong growth and a break of 15.45. This will indicate a breakdown of the resistance area and continued growth in the area above the level of 16.05. Expect to accelerate the decline in quotes XAG/USD stands with the breakdown of the support area and closing below the level of 14.95.
XAG/USD Forecast Silver and Analysis July 12, 2019 implies an attempt to test the resistance area near the level of 15.30. Further, the continuation of the fall of quotations with a target below the level of 14.50. The abolition of the option of reducing the price of Silver will be a strong increase and the breakdown level of 15.45. This will indicate a breakdown of the resistance level. In this case, we can expect a continuation of the rise in prices above the level of 16.05.