Technical analysis

Silver Wave Analysis 6 December 2023

– Silver reversed from resistance level 25.80

– Likely to fall to support level 23.50

Silver falling strongly after the price reversed down from the key resistance level 25.80, which reversed the price multiple times in April and May.

The downward reversal from the resistance level 25.80 started the active minor corrective wave iv.

Given the strength of the resistance level 25.80 and the bearish sentiment seen across the precious metal markets today, Silver can be expected to fall further to the next support level 23.50.

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