Technical analysis

Silver Wave Analysis – 11 April, 2022

Silver Wave Analysis – 11 April, 2022

• Silver reversed from support level 24.10
• Likely to test resistance level 25.50

Silver recently reversed up from the key support level 24.10 (which stopped the previous minor impulse wave 1 at the end of March).

The support zone near the support level 24.10 was strengthened by the lower daily Bollinger Band and by the 50% Fibonacci correction of the upward impulse from December.

Silver can be expected to rise further toward the next resistance level 25.50 (which reversed the price at the end of last month).

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