Silver XAG/USD is trading at the level of 16.37. Silver is trading below the lower boundary of the Ichimoku Cloud, indicating a downward trend in silver. It is expected to test the area of signal lines near the level of 16.60, from which one should expect an attempt to fall and develop a bearish trend in the Silver near the level of 15.90.
Ichimoku Kinko Hyo XAG/USD Forecast on May 9, 2017
Previously, a weak signal was generated for the sale of Silver, due to the intersection of the signal lines at the level of 18.25. The cancellation of the fall option will be the breakdown of the upper boundary of the Ichimoku Cloud with the closing of quotes above the area of 17.10, which will indicate a change in the downward trend in favor of the ascending trend. Expect to accelerate the fall in quotations XAG/USD stands with the breakdown of the local minimum area at the level of 16.10.
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