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 $ 14.84. At the moment, we should expect an attempt to grow the asset and test the resistance level near the 15.10 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 14.05.
XAG/USD Forecast Silver and Analysis May 9, 2019
In favor of reducing the XAG/USD quotes, a test of the downward trend line on the relative strength index (RSI) will be performed. 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 9, 2019 will be a strong growth and a break of 15.35. This will indicate a breakdown of the upper boundary of the channel and continued growth in the region above the level of 15.95. 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 9, 2019 implies an attempt to test the resistance area near the level of 15.10. Further, the continuation of the fall in quotations with a target below the level of 14.05. Cancellation of the option of falling prices for Silver will be a strong growth and the breakdown level of 15.35. This will indicate a breakdown of the upper boundary of the channel. In this case, we can expect a continuation of the rise in prices above the level of 15.95.
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