Silver Wave Analysis – 24 February 2023
February 24, 2023 @ 22:10 +03:00
• Silver broke support level 21.50
• Likely to fall to support level 20.50
Silver recently broke the key support level 21.50 (which stopped the previous minor impulse wave 1 earlier this month) intersecting with the 50% Fibonacci correction of the previous upward impulse from October .
The breakout of the support level 21.50 accelerated the active impulse waves 3 and (C).
Silver can be expected to fall further toward the next support level 20.50 (previous monthly low from November).