XAG/USD Silver rate Forecast for August 2018

Of course Silver for August is written with the price XAG/USD 15,40.

For 2 months in a row the rate of silver metal XAG/USD is actively falling. Moreover. if you look at the daily chart XAG/USD, we can see that the downward trend in silver was formed not two months ago, but almost a year ago. If you put the channel lines on the daily chart of the Silver rate, it is noticeable that each time the top of the resistance level is lower than the previous time.

If you look at the cloud Ichimoku Kinko Hyo, we also see that the silver market is now in a downward trend. Accordingly, the silver strategy for August will be to sell from the levels on each short-term growth of the silver rate.

The signal lines of the Ichimoku indicator also show down. The red fast signal line crossed the blue slow line from top to bottom on the silver metal in may, at quotes of 16.6.

XAG/USD Silver rate Forecast for August 2018

The support level for silver is 15.16. The nearest resistance level is 15.7. This is the blue signal line of the Ichimoku indicator. then the lower boundary of the Ichimoku cloud follows, the resistance level will be 16.00.

We allow a short-term rollback of the silver rate to the resistance area.

Thus, the XAG/USD metal forecast of silver exchange rate for August 2018 suggests the continuation of the fall of the silver rate (after a possible rollback). The purpose of the downtrend on silver, XAG/USD are 15,16 and 14.00.