XAG/USD Forecast Silver and Analysis May 28, 2020


Silver continue to move as part of the growth and formation of the «Triangle» model. At the time of the publication of the forecast, the price of Silver is 17.24 Dollars. Moving averages indicate a bullish trend. Prices have gone up from the area between the signal lines, which indicates pressure from the buyers of the asset and the potential continuation of the growth in the value of the asset. At the moment, we should expect an attempt to develop a downward correction of the metal value and a test of the support level near the area of ​​16.75. Where can we expect a rebound and continued growth in the price of Silver with a target above the level of 19.05.

XAG/USD Forecast Silver and Analysis May 28, 2020

An additional signal in favor of the growth of quotations and prices for XAG/USD Silver will be a test of the support line on the relative strength index (RSI). The second signal in favor of growth will be a rebound from the lower boundary of the «Triangle» model. Cancellation of the option of raising the price of Silver on May 28, 2020 will be a fall and a breakdown of 16.25. This will indicate a breakdown of the support area and continued decline to the area below the level of 14.75. Expect to accelerate the growth of XAG/USD quotes with the breakdown of the resistance area and the closing of prices above the level of 17.75.

XAG/USD Forecast Silver and Analysis May 28, 2020

XAG/USD Forecast Silver and Analysis May 28, 2020 suggests an attempt to test the support area near the level of 16.75. Further, the continued growth of quotations with a target above the level of 19.05. Cancellation of the option of raising prices for Silver will be a fall and a breakdown of the level of 16.25. This will indicate a breakdown of the support level. In this case, we should expect continued decline in prices below the level of 14.75.


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