- Silver broke support area
- Further losses are likely
Silver recently broke the support area lying between the support level 13.16 and the 50% Fibonacci correction of the previous multi-month upward impulse wave from last September.
The breakout of this support area accelerated the active impulse wave 3 – which belongs to the medium-term downward impulse wave (3) from February.
Silver is expected to fall further and re-test the next support level 12.800 (target for the completion of the active impulse wave 3).