Silver continue to move within the correction and the bearish channel. At the time of the publication of the forecast, prices for Silver amount to 14.63 Dollars. Moving averages indicate a short-term bearish trend. At the moment, we should expect an attempt to continue the correction of the asset and test the resistance level near the area of 14.70. Where can we expect a rebound and the continuation of the fall in the price of Silver with the goal below the level of 13.65.
XAG/USD Forecast Silver and Analysis June 4, 2019
In favor of raising the XAG/USD quotes, a test of the downward trend line on the relative strength index (RSI) will be made. The second signal will be a rebound from the upper boundary of the downward channel. Cancellation of the option of reducing the price of silver on June 4, 2019 will be a strong growth and a breakdown of 14.95. This will indicate a breakdown of the upper boundary of the channel and continued growth in the region above the level of 15.25. Expect to accelerate the fall of XAG/USD quotes with the breakdown of the support area and closing below 14.15.
XAG/USD Forecast Silver and Analysis June 4, 2019 implies an attempt to test the resistance area near the level of 14.70. Further, the continuation of the fall in quotations with a target below the level of 13.65. The abolition of the option of reducing the price of Silver will be a strong increase and the breakdown of the level of 14.95. This will indicate a breakdown of the resistance level. In this case, we can expect continued price increases above the level of 15.25.
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