Silver continue to move as part of the correction and the formation of the bearish “Wolfe Wave” pattern. At the time of the forecast, Silver prices are at 26.09. Moving averages indicate a bullish trend. Prices broke through the area between the signal lines downward, which indicates pressure from the sellers of the asset and a potential continuation of the fall in value from the current levels. At the moment, we should expect an attempt to develop a correction in the value of the metal and a test of the resistance level near the 26.25 area. Where can we expect a rebound and the continuation of the fall in the price of Silver with a target below the level of 25.25.
XAG/USD Forecast Silver and Analysis July 14, 2021
An additional signal in favor of reducing quotes and prices for XAG/USD Silver will be a test of the resistance line on the relative strength index (RSI). The second signal in favor of the fall will be a rebound from the upper boundary of the “Wolfe Wave” model. Cancellation of the option to reduce Silver prices on July 14, 2021 will be a strong growth and a breakdown of 26.75. This will indicate a breakdown of the resistance area and a continued rise to the area above the level of 30.55. Expect to accelerate the fall in XAG/USD quotes with the breakdown of the support area and closing the price below 25.75.
XAG/USD Forecast Silver and Analysis July 14, 2021 imply an attempt to test the resistance area near the 26.25 level. Further, the continuation of the fall in quotations with a target below the level of 25.25. Cancellation of the option of falling prices for Silver will be a strong growth and a breakdown of the level of 26.75. This will indicate a breakdown of the resistance level. In this case, we should expect the price to continue to rise above the level of 30.55.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
