Silver continue to move within the growth and downward channel. At the time of the publication of the forecast, prices for Silver amount to $ 14.73. Moving averages indicate a short-term bearish trend. At the moment, we should expect an attempt to continue the asset correction and test the resistance level near the area of 14.80. Where can we expect a rebound and the continuation of the fall in the price of Silver with a target below the level of 13.85.
XAG/USD Forecast Silver and Analysis June 5, 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 5, 2019 will be a strong increase and breakdown 15.10. This will indicate a breakdown of the upper boundary of the channel and continued growth in the region above the level of 15.45. Expect to accelerate the fall of XAG/USD quotes with the breakdown of the support area and closing below 14.35.
XAG/USD Forecast Silver and Analysis June 5, 2019 implies an attempt to test the resistance area near the level of 14.80. Further, the continuation of the fall in quotations with a target below the level of 13.85. The cancellation of the option to reduce the price of Silver will be a strong increase and the breakdown level of 15.10. This will indicate a breakdown of the resistance level. In this case, it is worth expecting the continuation of price growth above the level of 15.45.
