Silver continue to move as part of the decline and the formation of the «Triangle» model. At the time of publication of the forecast, the price of Silver is $ 14.73. At the moment, we should expect an attempt to grow the asset 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 May 15, 2019
In favor of raising the XAG/USD quotes, a test of the downward trend line on the relative strength index (RSI) will come out. The second signal will be a rebound from the upper boundary of the downward channel. Cancellation of the option of falling prices on Silver May 15, 2019 will be a strong growth and a breakdown May 15. This will indicate a breakdown of the upper boundary of the channel and continued growth in the region above the level of 15.85. 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 May 15, 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 abolition of the option of reducing the price of Silver will be a strong increase and the breakdown level of 15.05. This will indicate a breakdown of the resistance level. In this case, one should expect continued price growth above the level of 15.85.
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