Silver Wave Analysis – 08 May, 2019

• Silver reversed from support area
• Further gains are likely

Silver recently reversed up from the support area lying between the support level 14.60, lower daily Bollinger Band and the support trendline of the daily down channel from March.

The upward reversal from this support area created the strong Japanese candlesticks reversal pattern Morning Star.

Silver is expected to rise further and re-test the next resistance level 15.10 (which reversed the price multiple times in April).