Silver continue to move as part of the decline and the beginning of the development of the «Triangle» model. At the time of the publication of the forecast, the price of Silver is 16.91 Dollars. Moving averages indicate a bearish trend. At the moment, we should expect an attempt to develop a growth in the value of the metal and a test of the resistance level near the area of 17.35. Where can we expect a rebound and a continued fall in the price of Silver with a target below the level of 15.65.
XAG/USD Forecast Silver and Analysis November 13, 2019
In favor of falling quotes and prices for Silver XAG/USD, a test of the resistance line on the relative strength index (RSI) will come out. The second signal in favor of lowering will be a rebound from the lower boundary of the Triangle model. Cancellation of the option of falling Silver prices on November 13, 2019 will be a strong growth and a breakdown of 18.15. This will indicate a breakdown of the lower boundary of the ascending channel and continued growth to the area above the level of 19.45. Expect to accelerate the fall in XAG/USD quotes with the breakdown of the support area and closing under the level of 16.05.
XAG/USD Forecast Silver and Analysis November 13, 2019 suggests an attempt to test the resistance area near the level of 17.35. Further, the continuation of the fall of quotations with the target below the level of 15.65. Cancellation of the option of falling prices for Silver will be a strong growth and the breakdown of the level of 18.15. This will indicate a breakdown of the resistance level. In this case, we should expect the continuation of the rise in prices above the level of 19.45.