Silver continue to move as part of the growth and upward channel. At the time of this forecast, Silver prices are at $ 19.21. Moving averages indicate a bullish trend. Prices are retesting the area between the signal lines, which indicates pressure from buyers of the asset and a potential continued growth in the value of the asset. At the moment, we should expect an attempt to develop a correction in the value of the metal and a test of the support level near the 18.75 area. Where can we expect a rebound and continued growth in the price of Silver with a target above the level of 20.75.
XAG/USD Forecast Silver and Analysis July 17, 2020
An additional signal in favor of the rise in quotes and prices for Silver XAG/USD will be a test of the support line on the relative strength index (RSI). The second signal in favor of growth will be a rebound from the lower boundary of the ascending channel. Cancellation of the option of rising prices for Silver on July 17, 2020 will be a fall and a breakdown at 18.20. This will indicate a breakdown of the support area and a continued fall to the area below the level of 17.35. Expect to accelerate the growth of XAG/USD quotes with the breakdown of the resistance area and closing prices above 19.75.
XAG/USD Forecast Silver and Analysis July 17, 2020 suggests an attempt to test the support area near the level of 18.75. Further, the continued growth of quotations with a target above the level of 20.75. Cancellation of the option to raise Silver prices will be a fall and a breakdown of the level of 18.20. This will indicate a breakdown of the support level. In this case, we should expect the price to continue falling below the level of 17.35.
