Silver Wave Analysis – 29 May, 2020
May 29, 2020 @ 16:52 +03:00
• Silver broke resistance level 17.50
• Likely to rise to 18.90
Silver recently broke above the multi-month resistance level 17.50 (former strong support from January and February) – which has been reversing the price from the start of March.
The breakout of the resistance level 17.50 accelerated the active short-term impulse wave (c).
Silver is likely to rise further toward the next resistance level 18.90 (top of the previous waves A and (B) and the target for the completion of the active wave 2).