Technical analysis

Silver Wave Analysis – 3 September, 2021

• Silver broke resistance area

• Likely to rise to resistance level 25.00

Silver today broke the resistance area lying between the resistance level 24.00, resistance trendline of the daily down channel from June and the 38.2% Fibonacci correction of the downward impulse from July.

The breakout of this resistance area accelerated the active short-term ABC correction 2 from the middle of August

Silver can be expected to rise further toward the next key resistance level 25.00 (target price for the completion of the active correction 2).

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