Silver continue to move as part of the fall. At the time of the publication of the forecast, the price of Silver is 17.39 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 17.65. Where can we expect a rebound and the continuation of the fall in the price of Silver with a target below the level of 16.70.
XAG/USD Forecast Silver and Analysis November 7, 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 the decline will be a rebound from the lower boundary of the broken upward channel. Cancellation of the option of falling Silver prices on November 7, 2019 will be a strong growth and a breakdown of 17.95. This will indicate a breakdown of the lower boundary of the ascending channel and continued growth to the area above the level of 16.25. Expect to accelerate the fall in XAG/USD quotes with the breakdown of the support area and closing under the level of 17.05.
XAG/USD Forecast Silver and Analysis November 7, 2019 suggests an attempt to test the resistance area near the level of 17.65. Further, the continuation of the fall of quotations with the target below the level of 16.70. Cancellation of the option of falling prices for Silver will be a strong growth and a breakdown of the level of 17.95. 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 16.25.