Silver: ⬆️ Buy
- Silver reversed from support area
- Likely to rise to resistance level 52.50
Silver recently reversed from support area between the round support level 50.00 (which was set as the likely downward target in our earlier report for this instrument), 20-day moving average and the 50% Fibonacci correction of the upward impulse (1) from October.
The upward reversal from this support area started the active intermediate impulse wave (3).
Given the overriding daily uptrend, Silver can be expected to rise to the next resistance level 52.50 (top of the previous wave B).
, 20-day moving average and the 50% Fibonacci correction of the upward impulse (1) from October.){kind=link}