Categories: Technical analysis

Silver Wave Analysis 26 March, 2021

• Silver reversed from support zone

• Likely to reach resistance level 26.65

Silver recently reversed up from the support zone lying between pivotal support level 24.5 (which has been reversing the price from January) and the lower daily Bollinger Band.

The upward reversal from this support level formed the daily candlesticks reversal pattern Hammer Doji.

Silver is likely to rise further toward the next resistance level 26.65 (top of the previous minor corrective wave B from the middle of March).

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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The FxPro Tech Analysis Team
Tags: Silver

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