• Silver reversed from support level 17.50
• Likely to rise to 18.35
Silver continues to rise after the earlier upward reversal from the pivotal support level 17.50 – former strong resistance which started two downward corrections in March and May respectively.
The upward reversal from the support level 17.50 continues the active multi-month upward impulse sequence (3) from the middle of April.
Silver is likely to rise further toward the next resistance level 18.35 (top of the previous Bearish Engulfing from the start of May).
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