Quotes of Silver XAG/USD are traded at the level of 17.87. Silver is trading below the moving average with a period of 55, indicating a bearish trend for Silver. At the moment, Silver quotes are testing the lower boundary of the Bollinger Bands indicator bars. It is worth waiting for the test of the middle border of the bands near the level of 18.10, whence again we should expect an attempt to continue the fall and further development of the downward trend for Silver with the first goal near the level of 17.70.
Bollinger Bands forecast XAG/USD on April 24, 2017
The conservative area for Silver sales is located near the upper boundary of the Bollinger Bands indicator strip at the level of 18.40. The abolition of the continuation of the fall of the Silver will be the breakdown of the moving average region with a period of 55, as well as the upper border of the indicator bars and the closing of the Silver quotes above the area of 18.60, indicating a change in the bullish trend for XAG/USD. In the case of fixing quotes below the lower border of the indicator bars, we expect to accelerate the fall of the Silver in the area below the level of 17.70.
