Silver continue to move within the growth and downward channel. At the time of the publication of the forecast, the price of silver is 15.29 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 15.05 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 4, 2019
The test of the support line on the relative strength indicator will be in favor of the XAG/USD quotes drop. The second signal will be a rebound from the lower boundary of the bullish channel. Cancellation of the option of rising prices for Silver on July 4, 2019 will be a fall and a breakdown of 14.90. This will indicate a breakdown of the support area and a continued decline to the area below 14.35. Expect acceleration of growth of XAG/USD quotes with the breakdown of the upper boundary of the downward channel and closing above the level of 15.65.
XAG/USD Forecast Silver and Analysis July 4, 2019 implies an attempt to test the support area near the level of 15.05. Further, the continuation of the growth of quotations with the goal above the level of 15.75. Cancellation of the option of raising the price of silver will fall and the breakdown level of 14.90. This will indicate a breakdown of the support level. In this case, we can expect a continuation of the decline in prices below the level of 14.35.
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