Technical analysis

Silver Wave Analysis – 11 November, 2021

Silver Wave Analysis – 11 November, 2021

• Silver broke resistance level 24.66

• Likely to rise to resistance level 26.00                                                                    

Silver continues to rise after recently breaking the key resistance level 24.66 (which has been reversing the price form the start of September), intersecting with the 61.8% Fibonacci correction of the downward impulse from July.

The breakout of the resistance level 24.66 should accelerate the C-wave of the active medium-term ABC correction (2) from September.

Silver can be expected to rise further toward the next round resistance level 26.00 (monthly high from August and the target for the completion of the active ABC correction (2)).

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