Silver continue to move within the correction and the ascending channel. At the time of the publication of the forecast, prices for Silver amount to 15.26 Dollars. Moving averages indicate a short-term uptrend. At the moment, we should expect an attempt to drop the asset and test the support level near the 15.15 area. Where should we expect a rebound and continued growth in the price of Silver with the goal above the level of 15.80.
XAG/USD Forecast Silver and Analysis July 16, 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 July 16, 2019 will be a fall and a break of 14.75. This will indicate a breakdown of the support area and the continuation of falling into the area below the level of 14.05. Expect acceleration of growth of XAG/USD quotes with the breakdown of the resistance area and closing above the level of 15.45.
XAG/USD Forecast Silver and Analysis July 16, 2019 implies an attempt to test the support area near the level of 15.15. Further, the continuation of the growth of quotations with the goal above the level of 15.80. Cancellation of the option of raising the price of silver will fall and the breakdown level of 14.75. This will indicate a breakdown of the support level. In this case, we should expect the continuation of price cuts below the level of 14.05.
