• Silver rising inside minor corrective wave (ii)
• Further gains are likely
Silver continues to rise inside the minor corrective wave (ii) which started recently from the combined support zone lying between the key support level 15.30 (which has been reversing the price from the middle of July) and the lower daily Bollinger Band.
The active corrective wave (ii) belongs to the short-term impulse wave 3 from the end of July.
Silver is likely to rise further and re-test the next resistance level 15.70 (former major support from December and the top of the previous wave 2 from July).