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Silver Wave Analysis – 4 July, 2019

  • 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)).

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Source: FxPro


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