Quotes of Silver XAG/USD are trading at the level of 17.83. Silver moves below the level of the moving average with a period of 55, indicating a bearish trend in silver. At the moment, Silver quotes are testing the lower boundary of the Bollinger Bands indicator bars. It is expected to test the average border of the indicator bars near the level of 18.00, where again we should expect an attempt to continue the fall and further development of the downward trend for Silver with the first target near the level of 17.60.
Bollinger Bands forecast XAG/USD on April 25, 2017
The conservative sales area is located near the upper boundary of the Bollinger Bands indicator bars at 18.30. Canceling the option to continue the fall of the Silver will be the breakdown of the moving average area 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 18.50, indicating a change in the bullish trend for XAG/USD. In the case of securing Silver below the tender boundary of the Bollinger Bands, you should expect an acceleration of the fall of XAG/USD in the area below the level of 17.60.
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