Silver Wave Analysis – 2 July 2025

Silver: ⬆️ Buy

– Silver reversed from support level 35.50

– Likely to rise to resistance level 37.30

Silver recently reversed up with the daily Hammer from the support level 35.50 (which stopped the previous waves (iv) and 4, as can be seen from the daily Silver chart below).

The support level 35.50 was strengthened by the 38.2% Fibonacci correction of the upward impulse from May and the support trendline from April.

Given the clear daily uptrend, Silver can be expected to rise further to the next resistance level 36.80 – the breakout of which can lead to further gains toward 37.30.