Technical analysis

Silver Wave Analysis – 12 December , 2018

Silver Wave Analysis – 12 December , 2018
  • Silver rising inside short-term impulse wave (c)
  • Further gains are likely

Silver continues to rise inside the short-term impulse wave (c), which belongs to the medium-term ABC correction 4 from the middle of November.

The active wave 4 started recently from the major support level 14.00 (which has been steadily reversing the pair from the start of September) – strengthened by the lower daily Bollinger Band.

Silver is expected to rise further and re-test the next strong resistance level 14.80 (previous monthly high from October and November).

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