Silver Wave Analysis – 02 August, 2019

• Silver falling inside impulse wave (c)
• Further losses are likely

Silver recently reversed down 3 times from the powerful resistance level 16.00 – intersecting with the daily Upper Bollinger Band.

The latest downward reversal from the resistance level 16.00 started active short-term impulse wave (c) – which belongs to the ABC correction 2 from last month.

Silver is expected to fall further and retest the next support level 15.55 (former key resistance from July and March).