Silver continue to move as part of the correction and the formation of the «Triangle» model. At the time of the publication of the forecast, the price of Silver is $ 17.90. Moving averages indicate a short-term uptrend. At the moment, we should expect an attempt to reduce metal and test the support level near the area of 17.45. 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 27, 2019
In favor of the growth of quotes and prices for Silver XAG/USD, a test of the ascending support line on the relative strength index (RSI) will come out. The second signal in favor of the rise will be a rebound from the lower boundary of the ascending channel. Cancellation of the option of rising prices for Silver on September 27, 2019 will be a strong fall and a breakdown of 17.25. This will indicate a breakdown of the lower boundary of the ascending channel and continued fall into the area below the level of 16.95. Expect acceleration of the growth of XAG/USD quotes with the breakdown of the resistance area and closing above the level of 18.75, which will indicate the quotes going beyond the Triangle model.
XAG/USD Forecast Silver and Analysis September 27, 2019 implies an attempt to test the support area near the level of 17.45. 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 17.25. This will indicate a breakdown of the support level. In this case, we should expect continued decline in prices below the level of 16.95.
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