Silver continue to move within the growth and downward channel. At the time of the publication of the forecast, the price of Silver is 14.88 Dollars. Moving averages indicate a short-term bearish trend. At the moment, we should expect an attempt to continue asset correction and a test of the resistance level near the 14.95 area. Where can we expect a rebound and the continuation of the fall in the price of Silver with the goal below the level of 14.25.
XAG/USD Forecast Silver and Analysis June 6, 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 bearish channel. Cancellation of the option of reducing the price of silver on June 6, 2019 will be a strong increase and breakdown 15.15. 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 14.55.
XAG/USD Forecast Silver and Analysis June 6, 2019 implies an attempt to test the resistance area near the level of 14.95. Further, the continuation of the fall of quotations with the goal below the level of 14.25. Cancellation of the option to reduce the price of Silver will make a strong growth and the breakdown level of 15.15. 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.
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