Categories: Technical analysis

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).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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The FxPro Tech Analysis Team
Tags: XAGUSD

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