Technical analysis

Silver Wave Analysis – 26 August, 2021

• Silver reversed from resistance zone

• Likely to fall to support level 23,00

Silver recently reversed down from the resistance area located between the pivotal resistance level 24,00 (former major support from January and March) and the 38.2% Fibonacci correction of the previous impulse wave 5.

The downward reversal from this resistance zone stopped the previous short-term impulse wave C.

Silver can be expected to fall further toward the next support level 23,00 (which stopped the pervious short-term correction B).

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