Silver Wave Analysis – 15 May, 2020

• Silver broke resistance zone

• Likely to rise to 17,00

Silver recently broke the resistance area lying between the resistance level 15.80 (monthly high from April) and the 61,8% Fibonacci correction of the previous downward impulse (3) from February.

The breakout of this resistance zone accelerated the C-wave of the active medium-term ABC correction (4) from March.

Silver is likely to rise further toward the next resistance level 17,00 (forecast price for the termination of the active ABC correction (4)).