Silver Wave Analysis – 21 March 2025

Silver: ⬇️ Sell

– Silver reversed from resistance level 34.00

– Likely to fall to support level 32.00

Silver recently reversed down from the key resistance level 34.00 (which stopped the previous intermediate impose wave (3) at the end of October) standing close to the upper weekly Bollinger Band.

The downward reversal from the resistance level 34.00 stopped the previous impulse wave 3 of the higher order impulse wave (5) from the end of 2024.

Given the strength of the resistance level 34.00 and the overbought weekly Stochastic, USDCHF can be expected to fall to the next support level 32.00.