Silver XAG/USD is trading at the level of 16.61. Silver is traded inside the Cloud of Ichimoku Kinko Hyo, indicating a side trend. The Ichimoku Kinko Hyo Cloud upper limit test is expected near the level of 16.70, from which it is expected to test the lower boundary of the Ichimoku Kinko Hyo Cloud near the level of 16.30.
XAG/USD forecast Silver price on May 16, 2017
Previously, a weak signal was generated for buy Silver, due to the crossing of the signal lines at the level of 16.28. Consider buying is worthwhile with the breaking of the upper boundary of the Ichimoku Kinko Hyo Cloud and the closing of the Silver quotations above the level of 16.80, in the case of breaking through the lower boundary of the Ichimoku Kinko Hyo Cloud, it is expected to continue the development of the bearish trend for XAG/USD.