Silver Wave Analysis – 24 June, 2022

• Silver reversed from support level 20.60
• Likely to rise to resistance level 21.50

Silver recently reversed up from the key support level 20.60 (which stopped wave (5) at the start of May), standing below the lower daily Bollinger Band

The upward reversal from the support level 20.60 is currently forming the daily candlesticks reversal pattern, Hammer.

Given the bullish divergence on the daily Stochastic indicator, Silver can be expected to rise further toward the next resistance level 21.50.