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Silver Wave Analysis – 25 February, 2019

  • Silver reversed from resistance area
  • Likely to fall to 18.15

Silver recently reversed down sharply from the resistance area located between the resistance level 18.750 (top of the daily Evening Star from September), resistance level 18.85 (top of the previous impulse wave 1) and the upper daily Bollinger Band.

The downward reversal from this resistance area created the daily candlesticks reversal pattern Shooting Star Doji – standing well above the upper Bollinger Band.

Silver is likely to fall further toward the next support level 18.15 (former top of the earlier impulse wave (i) from last month).

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