Categories: Technical analysis

Silver Wave Analysis – 23 December, 2021

• Silver reversed from support level 21.5

• Likely to rise to resistance level 23.00

Silver recently reversed up from the powerful support level 21.5 (which stopped the earlier sharp impulse wave (1) at the end of September).

The upward reversal from the support level 21.5 1.2960 started the active short-term ABC correction 2 – of wave (2) from November.

Silver can be expected to rise further toward the next resistance level 23.00 (former low of wave B from last month).

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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Tags: Silver

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