Silver Wave Analysis – 23 March 2023

• Silver broke key resistance level 22.60

• Likely to rise to resistance level 24.50

Silver recently broke the key resistance level 22.60 (former support from December, which has been reversing the price from February).

The breakout of the resistance level 22.60 coincided with the breakout of the 50% Fibonacci correction of the previous downward impulse (1) from February (which accelerated the active impulse wave C).

Silver can then be expected to rise further toward the next resistance level 24.50 (previous Triple Top from December and January).