Technical analysis

Silver Wave Analysis 1 April, 2021

Silver Wave Analysis 1 April, 2021

• Silver reversed from support area

• Likely to rise to resistance level 26.65

Silver recently reversed up from the support area lying between the support level 24.00 (which has been reversing the price from December) lower daily Bollinger Band and the support trendline of the daily down channel from February.

The upward reversal from this support area stopped the previous intermediate ABC correction (2).

Given the multi-month uptrend, Silver is likely to rise further toward the next resistance level 26.65 (top of wave b from the middle of March).

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