Silver XAG/USD is trading at the level of 16.72. 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 upper test is expected near the level 16.50, from which one should expect an attempt of growth and development of the bullish trend over the Silver near the level 17.40.
XAG/USD forecast & analysis on May 22, 2017
Previously, a weak signal was generated for the sale of Silver XAG/USD, due to the crossing of the signal lines at the level of 16.72. Canceling the growth of quotations of the Silver XAG/USD will be a breakdown of the lower boundary of the Cloud of Ichimoku Kinko Hyo with the closing of quotes below the area of 16.30, which will indicate a change in 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 the level of 17.20.
