Silver Wave Analysis – 27 August, 2019

• Silver broke resistance area
• Further gains are likely

Silver recently broke the resistance area located between the long-term resistance level 17.70 (yearly high from 2018) and the resistance trendline of the weekly up channel from July.

The breakout of this resistance area accelerated the active medium-term impulse wave (3).

Silver is expected to rise further and retest the next resistance level 18.20 (top of the previous wave (B) from 2017).