Silver Wave Analysis

  • Silver broke key resistance level 24.50
  • Likely to rise to resistance level 25.5

Silver today broke the key resistance level 24.50 (which stopped the previous minor ABC correction 2 as can be seen below).

The breakout of the resistance level 24.50 continues the active impulse wave C of the ABC correction (2) from January.

Given the predominantly bullish sentiment that can be seen on the precious metal markets today Silver can be expected to rise further toward the next resistance level 25.5 (which stopped wave C in December).

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