Silver recently reversed down from the resistance area lying between the key resistance level 14.90 (top of the previous correction (ii) from August), upper daily Bollinger Band and the 61.8% Fibonacci correction of the previous downward impulse from August.
The downward reversal from this resistance area started the active medium-term impulse wave (5), which belongs to the long-term impulse sequence from January.
Silver is expected to fall further and re-test the next support level 14.00 (which stopped the previous medium-term impulse wave (3) in September).
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