Market Snapshots


Silver Wave Analysis – 16 November , 2018

  • Silver reversed from combined support area
  • Further gains are likely

Silver recently reversed up from combined support area located between the key support level 13.90 (which also previously stopped the sharp downtrend in September) and the lower daily Bollinger Band.

The upward reversal from this support area created the daily Japanese candlesticks reversal pattern Morning Star, which stopped the previous sharp ABC correction ② from the start of October.

Silver is expected to rise further and re-test the next resistance level 14.600 (target price for the completion of eth active corrective wave ii).

Source: FxPro

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