Silver can be expected to rise further to the next resistance level 71.85 (former top of wave 2 from the start of June and the target for the completion of the active impulse wave C).
- Silver broke key resistance level 63.80
- Likely to rise to resistance level 71.85
Silver recently broke above the key resistance level 63.80 (which has been reversing the price from the start of February, as can be seen from the daily Silver below). The breakout of this resistance level accelerated the active short-term impulse wave C that belongs to the intermediate ABC correction (2) from the middle of July. Impulse waves C are often the strongest impulse waves in ABC corrections * which adds to the probability of further gains for Silver in eth coming trading sessions.
Given the strength of the active impulse wave C, Silver can be expected to rise further to the next resistance level 71.85 (former top of wave 2 from the start of June and the target for the completion of the active impulse wave C).