Technical analysis

Silver Wave Analysis 18 December, 2020

Silver Wave Analysis 18 December, 2020

• Silver reversed from resistance level 25.90

• Likely to fall to 25.00

Silver recently reversed down exactly from the key resistance level 25.90 (former monthly high from November, which stopped the previous impulse wave 1) – intersecting with the 50% Fibonacci correction of the earlier wave (B).

The downward reversal from the resistance level 25.90 stopped the previous impulse waves (iii) and 3.

Silver is expected to fall further toward the next support level 25.00 (former resistance, top of the impulse wave (i) from the start of December).

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