Silver XAG/USD is trading at the level of 16.29. Silver continues to trade below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a downward trend in silver. The test of the lower boundary of the Ichimoku Kinko Hyo Cloud near the level of 16.50 is expected, from which one should expect an attempt to drop and develop a bearish trend along the Silver near the level of 15.90.
XAG/USD forecast Silver price on May 11, 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 a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations above the area of 17.00, 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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