Silver Wave Analysis 8 January, 2021

• Silver reversed from key resistance level 27.45

• Likely to fall to 25,00

Silver recently reversed down from the key resistance level 27.45 (which has been reversing the price from the middle of September).

The resistance area near the resistance level 27.45 was strengthened by the upper daily Bollinger Band and by the 61,8% Fibonacci correction of the downward impulse from August.

Silver is expected to fall further toward the next support level 25,00 (low of the minor correction (ii) from last month).