Market Snapshots

Silver Wave Analysis – 20 December, 2019

Silver Wave Analysis – 20 December, 2019
  • Silver broke daily Falling Wedge
  • Likely to rise to 17.25

Silver under bullish pressure after the earlier breakout of the resistance trendline of the daily Falling Wedge from the start of September.

The breakout of this Falling Wedge continues the active medium-term impulse wave (3) – which started earlier from the key support level 16.50.

Silver is expected to rise further toward the next level 17.25 (top of the previous corrective wave (iv) from the start of December).

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