– Silver rising inside intermediate impulse wave (3)
– Likely to test resistance level 25.00
Silver recently broke the key resistance level 23.50 (which has been reversing the price from
September, as can be seen below).
The breakout of the resistance level 23.50 accelerated the active intermediate impulse wave (3), which then broke the weekly down channel from May.
Given the prevailing risk on sentiment seen across the precious markets today, Silver can be expected to rise further to the next resistance level 25.00 (top of the weekly Evening Star from August).
- EURCAD reversed from pivotal support level 1.4900 - Likely to rise to resistance level…
- EURUSD reversed from support level 1.1030 - Likely to rise to resistance level 1.1200…
The unwinding of the carry trade in the FX market continues, with the major safe…
Market Picture The pressure on risk assets continues, pushing the crypto market capitalisation back below…
- AUDUSD reversed from support level 0.6700 - Likely to rise to resistance level 0.6800…
- Gold reversed from support level 2475.00 - Likely to rise to resistance level 2535.00…
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