- Silver reversed from support area
- Further gains are likely
Silver recently reversed up from the support area lying between the support level 15.00 (former resistance from April and June – acting as support after was broken by the previous upward impulse (i)).
The upward reversal from this support area started the active short-term impulse weave (iii) – which belongs to wave 3 from last June.
Silver is expected rise further and retest the next resistance level 15.50 (top of the previous impulse wave (i)).