Silver XAG/USD is trading at the level of 17.30. Silver is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates the presence of an bullish trend for Silver. Ichimoku Kinko Hyo Cloud is expected to test near the level of 17.10, from which one should expect an attempt of growth and development of the bullish trend for Silver near the level of 17.65.
XAG/USD forecast SILVER prices on June 2, 2017
Previously, a strong signal was generated for Silver buying, due to the crossing of the signal lines at the level of 16.79. Canceling of the growth of Silver quotes will be a breakdown of the lower boundary of the Cloud of Ichimoku Kinko Hyo with the closing of quotes below the area of 16.90, which will indicate the change of the bullish trend in favor of the bearish trend. Expect to accelerate the growth of quotations XAG/USD stands with the breakdown of the local maximum area at 17.50.
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