Quotes of Silver XAG/USD are trading at the level of 17.73. Silver continues to move above the moving average with a period of 55, indicating a bullish trend for silver. Currently, Silver quotes are testing the upper boundary of the Bollinger Bands indicator bars. It is worth waiting for an attempt to reduce and test the middle border of the bands, from which we again expect an attempt to continue growth with the first goal near the level of 18.20.
Bollinger Bands forecast XAG/USD on March 27, 2017
The conservative shopping area is located near the lower border of the Bollinger Bands indicator strip at the level of 17.45. Canceling the option of continuing the growth of the Silver will be the breakdown of the lower border area, as well as the moving average and the closing of the pair’s quotes below the area of 17.25, indicating a change in the bearish trend for XAG/USD. In the case of fastening above the upper boundary of the indicator strip, it is expected to accelerate the growth of the pair in the area above the level of 18.20.
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