Technical analysis

Silver Wave Analysis – 28 December , 2018

  • Silver broke resistance area
  • Further gains are likely

Silver recently broke through the resistance area lying between the resistance level 14.80 (which reversed the price multiple times from October) and the 50% Fibonacci correction of the previous downward impulse from July.

The breakout of this resistance area accelerated the active short-term impulse wave C – which belongs to the medium-term ABC correction (4) from September.

Silver is expected to rise further and re-test the next resistance level 15.60 (former resistance from July and the target price for the completion of the active impulse wave C).

Article Rating
Rate this post