Silver continue to move within a strong correction and a bearish channel. At the time of the publication of the forecast, the price of silver is 14.47 dollars. Moving averages indicate a short-term bearish trend. At the moment, we should expect an attempt to continue asset correction and a test of the resistance level near the 14.45 area. Where can we expect a rebound and the continuation of the fall in the price of Silver with the goal below the level of 14.15.
XAG/USD Forecast Silver and Analysis May 30, 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 30, 2019 will be strong growth and a breakdown of 14.65. This will indicate a breakdown of the upper limit of the model and continued growth in the region above the level of 15.25. Expect to accelerate the fall in prices XAG/USD stands with the breakdown of the support area and closing below 14.25.
XAG/USD Forecast Silver and Analysis May 30, 2019 implies an attempt to test the resistance area near the level of 14.45. Further, the continuation of the fall in quotations with a target below the level of 14.15. The abolition of the option of reducing the price of Silver will be a strong increase and the breakdown level of 14.65. This will indicate a breakdown of the resistance level. In this case, we can expect continued price increases above the level of 15.25.
