Silver Wave Analysis – 26 August, 2020
August 26, 2020 @ 17:51 +03:00
• Silver reversed from support level 26.00
• Likely to rise to 28.5
Silver recently reversed up from the support level 26.00 (former key resistance from the end of July – which stopped the previous sharp upward impulse wave 3).
The support zone near the support level 26.00 is strengthened by the 50% Fibonacci correction of the previous downward retracement from the start of August.
Silver is likely to rise further toward the next resistance level 28.5 (top of the previous short-term impulse wave 1).