Silver Wave Analysis – 12 December , 2018

Trading Blog

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).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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