Silver continue to move within the framework of the correction and the formation of the «Triangle» model. At the time of the publication of the forecast, the price of Silver is 14.95 Dollars. Moving averages indicate a short-term uptrend. At the moment, we should expect an attempt to reduce the asset and test the support level near the area of 14.90. Where can we expect a rebound and continued growth in the price of Silver with the goal above the level of 15.55.
XAG/USD Forecast Silver and Analysis June 20, 2019
In favor of the growth of XAG/USD quotes, a test of the support line on the relative strength index (RSI) will come out. The second signal will be a rebound from the lower boundary of the model «Triangle». Cancellation of the option of raising the price of Silver June 20, 2019 will fall and a break of 14.65. This will indicate a breakdown of the support area and the continuation of falling into the area below the level of 13.95. Expect to accelerate the growth of XAG/USD quotes with the breakdown of the upper limit of the model «Triangle» and closing above the level of 15.15.
XAG/USD Forecast Silver and Analysis June 20, 2019 implies an attempt to test the support area near the level of 14.90. Further, the continuation of the growth of quotations with the goal above the level of 15.55. Cancellation of the option of rising prices for Silver will make the fall and the breakdown level of 14.65. This will indicate a breakdown of the support level. In this case, it is worth expecting the continuation of price cuts below the level of 13.95.
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