Silver complete the trading week near the level of 22.72. XAG/USD continues to trade below the lower boundary of the Ichimoku Kinko Hyo Cloud. This indicates a bearish trend for Silver. As part of the forecast for the current trading week, a correction is expected to develop and a test of the lower boundary of the Cloud of the Ichimoku Kinko Hyo indicator near the level of 23.25. Where should we expect an attempt to rebound down and continue to fall with a target near the level of 19.95.
Silver Prediction XAG/USD August 21 — 25, 2022
An additional signal in favor of falling Silver prices in the current trading week XAG/USD August 21 — 25, 2022 will be a rebound from the resistance area on the price chart. The second signal will be a rebound from the lower border of the bullish channel. Earlier, a signal of medium strength was received for selling Silver, due to the crossing of the signal lines at the level of 23.75.
Cancellation of the option of falling Silver quotes will be a breakdown of the upper border of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the 24.65 area. This will indicate a change in the bearish trend in favor of the bullish trend and the continuation of the rise in the price of Silver. Expect an acceleration in the fall of XAG/USD quotes with a breakdown of the support area and closing of quotes below the level of 21.85.
Silver Prediction XAG/USD August 21 — 25, 2022 suggests an attempt to develop a price correction to the level of 23.25. Where should we expect a rebound and a continuation of the fall in quotes and prices for the precious metal with a potential target near the level of 19.95. A test of the resistance level on the price chart will come out in favor of the decline. Cancellation of the option to fall in the cost of Silver will be a strong growth and a breakdown of the area of 24.65. In this case, we should expect a continuation of the rise with the target at the level of 27.75.
