Silver: ⬇️ Sell
– Silver reversed from resistance area
– Likely to fall to support level 62.60
Silver previously reversed from the resistance area set between the resistance level 71.60 (top of wave 2 from June), 50% Fibonacci correction of the downward impulse (1) from May and the upper daily Bollinger Band.
The downward reversal from this resistance area broke the earlier daily up channel from the end of July.
Given the strong daily downtrend, Silver can be expected to fall further to the next support level 62.60 – former low of the previous minor support from the middle of August and earlier top of wave 4 from the start of June.
, 50% Fibonacci correction of the downward impulse (1) from May and the upper daily Bollinger Band.){kind=link}