Silver continue to move as part of the decline and the formation of an inverted «Head and Shoulders» model. At the time of the publication of the forecast, the price of Silver is 14.62 Dollars. At the moment, we should expect an attempt to drop the asset and a test of the support level near the area of 14.60. Where can we expect a rebound and continued growth in the price of Silver with the goal above the level of 15.20.
XAG/USD Forecast Silver and Analysis May 14, 2019
In favor of raising the XAG/USD quotes, a test of the rising trend line on the relative strength index (RSI) will be made. The second signal will be a rebound from the support area. Cancellation of the option of rising prices for Silver on May 14, 2019 and the start of testing the reversal pattern will be a fall and a break of 14.35. This will indicate a breakdown of the support area and a continued decline to the area below the level of 13.75. Expect acceleration of growth of XAG/USD quotes with the breakdown of the resistance area and closing above the level of 15.00.
XAG/USD Forecast Silver and Analysis May 14, 2019 implies an attempt to test the support area near the level of 14.60. Further, the continuation of the growth of quotations with the goal above the level of 15.20. Cancellation of the option of raising the price of silver will fall and the breakdown level of 14.35. This will indicate a breakdown of the local minimum and the abolition of the formation of a reversal pattern. In this case, we can expect a continuation of the decline in prices below the level of 13.75.
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