Silver Wave Analysis – 07 August, 2019

• Silver broke strong resistance level 16.60
• Further gains are likely

Silver today broke the strong resistance level 16.60 – which formed the Tipple Top in July.

The breakout of the resistance level 16.60 should accelerate the active impulse wave (iii) – which started earlier from the key support area surrounding the support level 16.20 (former resistance level from January and February).

Silver is expected to rise further and retest the next resistance levels 17.00 and 17.200 (target for the completion of the active wave 3).