Quotes of Silver XAG/USD finish the trading week at 16.43. Silver continues to trade below the moving average with a period of 55, indicating a bearish trend in silver. At the moment, Silver quotes are moving towards the middle border of the Bollinger Bands indicator bars. It is worth waiting for the test of the average border of the Bollinger Bands indicator near the level of 17.00, where again we should expect an attempt to continue the fall and further development of the downward trend for Silver with the first target near the level of 15.80.
XAG/USD forecast for the week May 15 — 19, 2017
The conservative XAG/USD sale area is located near the upper boundary of the Bollinger Bands indicator at 18.60. Canceling the option of continuing the fall of the Silver will be a breakdown of the moving average with a period of 55, as well as the upper boundary of the Bollinger Bands indicator and the closing of the Silver quotes above the area of 19.00, indicating a change in the downtrend in favor of the bullish trend on XAG/USD. In the case of fixing quotes below the lower border of the bands of the Bollinger Bands indicator, we should expect an acceleration in the fall of silver quotations.