Silver continue to move within the correction and the bullish 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 reduce the asset and a test of the support level near the 15.20 area. Where can we expect a rebound and continued growth in the price of Silver with the goal above the level of 15.75.
XAG/USD Forecast Silver and Analysis July 2, 2019
In favor of the growth of XAG/USD quotes, a test of the support area on the relative strength index (RSI) will come out. The second signal will be a rebound from the lower boundary of the rising channel. Cancellation of the option of raising the price of silver on July 2, 2019 will be a fall and a breakdown of 14.95. This will indicate a breakdown of the support area and the continuation of falling into the area below the level of 14.50. Expect to accelerate the growth of XAG/USD quotes with the breakdown of the upper boundary of the Wedge model and closing above the level of 15.45.
XAG/USD Forecast Silver and Analysis July 2, 2019 implies an attempt to test the support area near the 15.20 level. Further, the continuation of the growth of quotations with the goal above the level of 15.75. Cancellation of the option of rising prices for Silver will make the fall and the breakdown of the level of 14.95. This will indicate a breakdown of the support level. In this case, it is worth expecting the continuation of price reductions below the level of 14.50.