Silver Wave Analysis – 10 February, 2022

• Silver reversed from support level 22.00

• Likely to rise to resistance level 24.55

Silver recently reversed up from the key support level 22.00 (which has been reversing the price from the end of 2020 as can be seen from the weekly Silver chart below).

The upward reversal from the support level 22.00 continues the active minor impulse wave C of wave (B) from last year.

Given the clear uptrend – Silver can be expected to rise further toward the next resistance level 24.55 (previous reversal point from the start of this year).