Silver: ⬇️ Sell
– Silver reversed from resistance zone
– Likely to fall to support level 55.00
Silver recently reversed from the resistance zone between the key resistance level 62.60 (former strong support from February and June), 20-day moving average and the 50% Fibonacci correction of the downward impulse from June.
The downward reversal from this resistance area continues the active short-term impulse wave C which belongs to the ABC correction (2) from February.
Silver can be expected to fall further to the next support level 55.00 (which stopped earlier downward impulse at the end of June).