Silver is traded at 18.39. Xag/USD quotes move below the lower boundary of the Ichimoku Kinko Hyo cloud. This indicates the presence of medium-term bearish trend on the instrument. As part of the forecast of silver, for today, on September 2, 2022, the development of the correction and test of the area of the signal lines of the Ishimoku indicator near the level of 18.65. Where it is worth expecting a rebound down and the continuation of the fall in silver prices with a potential goal near the level of 16.65.
Silver Forecast and XAG/USD analysis September 2, 2022
An additional signal in favor of this movement of the XAG/USD quotes will be a test level on the price schedule. The second signal in favor of growth will be the rebound from the upper boundary of the bull channel. Previously, a strong signal was received for silver sales due to the intersection of the signal lines of the Ishimoku indicator at 18.95.
The cancellation of the increase in the growth of quotes and the prices for silver will be the fall and breakdown of the lower boundary of the cloud of the initiator with a closure under the level of 20.10. This option will indicate a change in a bear’s trend in favor of a bull tendency on silver. In this case, it is worth expecting a continuation of growth with a potential goal near the area 21.75. Expect acceleration of the fall/USD fall with a breakdown of support and closing under the level of 17.90.
Silver Forecast and XAG/USD analysis September 2, 2022 involves an attempt to develop correction and a resistance level test near the area of 18.65. Where to expect an attempt to fall the XAG/USD quotes with a potential goal near the level of 16.65. The cancellation of the option of reducing the tool will be a strong growth and breakdown of the area 20.10. In this case, it is worth expecting a continuation of the rise with a potential goal above the level of 21.75.
