Silver Wave Analysis – 18 July, 2019

Silver broke key resistance level 15.55
Further gains are likely

Silver continues to rise sharply inside the short-term impulse wave (iii), which previously recently broke the key resistance level 15.55 (which has been reversing the price from the middle of May).

The breakout of this resistance level strengthened the bullish pressure on this instrument.

Silver is expected to rise further and retest the next resistance level 16.20 (target for the completion of the active impulse wave (iii)).

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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