Jul 11 2018

XAGUSD(Silver) – About to rise

XAGUSD(Silver):- Silver markets have fallen during most of the week, but a bounce back of the same is expected in the coming weeks. The metal is witnessing a formation of hammer candlestick around the $16 level, which is a very positive turn of event. Momentum indicator Slow Stochastic is hovering below 20 mark(currently at 17.40) and is about to give bullish signal in oversold zone – an another sign of bulls to take the charge. I am expecting a recovery that the bulls can drive the Silver car towards $16.64 mark, concluded by 200-Day SMA resistance .Though the bottom is not confirmed yet – but as per my senses we are very close to the bottom(likely towards $15.76).