Technical analysis

Silver Wave Analysis – 30 November , 2018

Silver Wave Analysis – 30 November , 2018
  • Silver falling inside short-term impulse wave (v)
  • Further losses are likely

Silver continues to fall inside the short-term impulse wave (v) –which started earlier from the resistance area lying between the key resistance level 14.60 (lower boundary of the sideways price range which has reversed the price multiple times from October).

The resistance near the resistance level 14.60 was strengthened by the upper daily Bollinger Band.

Given the strength of the active daily downtrend – Silver is expected to fall further and re-test the next support level 13.90 (which reversed the price in September and November).

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