Silver Wave Analysis – 27 July, 2022

• Silver reversed from support level 18.30

• Likely to rise to resistance level 18.90

Silver earlier reversed up from the pivotal support level 18.30 (which has been steadily reversing the price from the end of June).

The upward reversal from the support level 18.30 created the daily Bullish Engulfing – which stopped the earlier minor impulse wave 5.

Silver can be expected to rise further toward the next resistance level 18.90 (top of the earlier minor correction 4 and also the low of wave (iii) from the start of July).