Silver continue to move as part of the growth and upward channel. At the time of the publication of the forecast, the price of Silver is $ 17.96. Moving averages indicate a short-term uptrend. At the moment, we should expect an attempt to correct the metal and test the support level near the area of 17.65. Where can we expect a rebound and continued growth in the price of Silver with a target above the level of 20.05.
XAG/USD Forecast Silver and Analysis September 11, 2019
In favor of the growth of XAG/USD quotes, a test of the rising support line on the relative strength index (RSI) will come out. The second signal will be a rebound from the lower border of the bullish channel. Cancellation of the option of rising prices for Silver on September 11, 2019 will be a fall and a breakdown of 17.40. This will indicate a breakdown of the lower boundary of the ascending channel and continued fall into the area below the level of 16.75. Expect to accelerate the growth of XAG/USD quotes with the breakdown of the resistance area and closing above the level of 18.55.
XAG/USD Forecast Silver and Analysis September 11, 2019 suggests an attempt to test the support area near the level of 17.65. Further, the continued growth of quotations with a target above the level of 20.05. Cancellation of the option of raising prices for Silver will be a fall and a breakdown of the level of 17.40. This will indicate a breakdown of the support level. In this case, we should expect continued decline in prices below the level of 16.75.