Silver Wave Analysis – 18 July, 2019

• Silver broke key resistance level 15.55
• Further gains are likely

Silver continues to rise sharply inside the short-term impulse wave (iii), which previously recently broke the key resistance level 15.55 (which has been reversing the price from the middle of May).

The breakout of this resistance level strengthened the bullish pressure on this instrument.

Silver is expected to rise further and retest the next resistance level 16.20 (target for the completion of the active impulse wave (iii)).