- Silver reversed from key support level 16.20
- Further gains are likely
Silver recently reversed up sharply from the key support level 16.20 (former major resistance level from January and February).
The upward reversal from the support level 16.20 started the active impulse wave (iii), which is a part of the upward impulse wave 3 from the start of July.
Silver is expected to rise further and retest the next resistance level 16.60 – which reversed the price earleir this week.