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 $14.42. Moving averages indicate a short-term downward trend. At the moment, we should expect an attempt to grow the asset and test the resistance level near the area of 14.50. Where can we expect a rebound and the continuation of the fall in the price of Silver with the target below the level of 14.05.
XAG/USD Forecast Silver and Analysis May 23, 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 for Silver on May 23, 2019 will be strong growth and a break of 14.75. This will indicate a breakdown of the upper limit of the model and continued growth in the region above the level of 15.55. Expect to accelerate the fall of XAG/USD quotes with the breakdown of the support area and closing below 14.30.
XAG/USD Forecast Silver and Analysis May 23, 2019 implies an attempt to test the resistance area near the level of 14.50. Further, the continuation of the fall in quotations with a target below the level of 14.05. The abolition of the option of reducing the price of Silver will be a strong increase and a breakdown of the level of 14.75. This will indicate a breakdown of the resistance level. In this case, one should expect continued price growth above the level of 15.55.
