Categories: Technical analysis

Silver Wave Analysis 3 April 2024

– Silver broke major  resistance zone

– Likely to rise to resistance level 28.00

Silver under the bullish pressure after the recent breakout of the major resistance zone located between the resistance levels 26.15 and 26.90 (previous yearly highs from 2022 and 2023).

The breakout of the resistance levels 26.15 and 26.90 accelerated the active impulse waves 3 and (3).

Given the clear multiyear uptrend, Silver can be expected to rise further to the next resistance level 28.00 (former strong resistance from 2021).

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.

Share
Published by
The FxPro Tech Analysis Team
Tags: Silver

Recent Posts

Bitcoin Fell Back to Local Support

Bitcoin finds support near the 50-day moving average, but further declines in the stock market…

1 hour ago

EURCHF Wave Analysis 20 December 2024

- EURCHF falling inside minor impulse wave 5 - Likely to fall to support level…

3 days ago

USDCHF Wave Analysis 20 December 2024

- USDCHF reversed from resistance zone - Likely to fall to support level 0.8860 USDCHF…

3 days ago

The US dollar ends the year on a strong note

The US dollar is at two-year highs. Factors such as changes in the Fed's monetary…

3 days ago

How deep will crypto dive?

The crypto market is experiencing a decline, with a potential further drop in value. Bitcoin…

3 days ago

EURGBP Wave Analysis 19 December 2024

- EURGBP reversed from support zone - Likely to rise to resistance level 0.8300 EURGBP…

4 days ago

This website uses cookies