Silver continue to move as part of the correction. At the time of the publication of the forecast, the price of Silver is 16.88 Dollars. Moving averages indicate a bearish trend. Prices are testing the area between the signal lines, which indicates pressure from asset sellers and a potential drop already from current levels. At the moment, we should expect an attempt to develop a correction in the value of the metal and a test of the resistance level near the area of 17.15. Where can we expect a rebound and the continuation of the fall in the price of Silver with a target below the level of 16.05.
XAG/USD Forecast Silver and Analysis March 11, 2020
An additional signal in favor of falling quotes and prices for XAG/USD Silver will be a test of the resistance line on the relative strength index (RSI). The second signal in favor of the decline will be a rebound from the upper boundary of the downward channel. Cancellation of the option of falling Silver prices on March 11, 2020 will be a strong growth and a breakdown of 17.55. This will indicate a breakdown of the resistance area and continued growth to the area above the level of 18.45. Expect to accelerate the fall in XAG/USD quotes with the breakdown of the support area and closing at 16.45.
XAG/USD Forecast Silver and Analysis March 11, 2020 suggests an attempt to test the resistance area near the level of 17.15. Further, the continuation of the fall in quotations with a target below the level of 16.05. Cancellation of the option of reducing the price of Silver will be a strong growth and a breakdown of the level of 17.55. This will indicate a breakdown of the resistance level. In this case, we should expect the continuation of the rise in prices above the level of 18.45.
