Silver XAG/USD completes the trading week at 16.83. Silver traded below the lower boundary of the Cloud Ichimoku Kinko Hyo, indicating a bearish trend in Silver. It is expected to test the area of signal lines near the level of 17.30, from which one should expect an attempt to drop and develop a bearish trend over the Silver XAG/USD with the target of reducing near the level 15.90.
XAG/USD weekly forecast on May 22 — 26, 2017
Earlier, a weak signal was received for the sale of Silver XAG/USD, due to the crossing of the signal lines at the level of 17.90. Canceling of falling quotations of the Silver XAG/USD will be a breakdown of the upper boundary of the Cloud of Ichimoku Kinko Hyo with the closing of quotes above the area of 17.60, which indicates a change in the downward trend in favor of the ascending trend. Expect to accelerate the fall in quotations XAG/USD with the breakdown of the local minimum area at 16.20.
