Silver: ⬆️ Buy
– Silver reversed from support area
– Likely to rise to resistance level 80.00
Silver recently reversed up sharply from the support area between the round support level 70.00, upper trendline of the recently broken up channel from November and the 50% Fibonacci correction of the upward impulse from the start of December.
The upward reversal from this support area continues the active minor impulse wave 3 of the medium-term impulse wave (3) from November.
Given the overriding daily uptrend, Silver can be expected to rise to the next round resistance level 80.00.
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