Silver continue to move in the framework of the decline and the downward channel. At the time of the publication of the forecast, the price of Silver is 14.78 Dollars. Moving averages indicate a short-term bearish trend. At the moment, we should expect an attempt to grow the asset and test the resistance level near the 15.00 area. Where can we expect a rebound and the continuation of the fall in the price of Silver with a target below the level of 13.95.
XAG/USD Forecast Silver and Analysis May 17, 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 17, 2019 will be a strong growth and a breakdown 15.05. 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 14.45.
XAG/USD Forecast Silver and Analysis May 17, 2019 implies an attempt to test the resistance area near the level of 15.00. Further, the continuation of the fall in quotations with a target below the level of 13.95. 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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