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Silver Wave Analysis – 25 March, 2019

  • Silver reversed from support area
  • Further gains are likely

Silver recently reversed up from the support area lying between the key support level 13.30 (which reversed the price at the end of January), lower daily Bollinger Band and the 38.2% Fibonacci correction of the previous upward price impulse from September.

The upward reversal from this support area stopped the earlier impulse wave 3.

Silver is expected rise further and re-test the next resistance level 14.30 (top of the previous ABC correction (2)).

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Source: FxPro


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