Silver Wave Analysis – 8 June, 2022

• Silver reversed from key resistance level 22.40
• Likely to fall to support level 21.50

Silver recently reversed down from the key resistance level 22.40 (which has been reversing the price from the end of May).

The resistance level 22.40 was further strengthened by the upper daily Bollinger Band and by the 61.8% Fibonacci correction of the downward impulse from the start of May.

Silver can be expected to fall further toward the next support level 21.50 (low of the previous corrective wave (b)).