Silver be expected to rise to the next round resistance level 90.00 (target price for the completion of the active short-term impulse wave i).
- Silver broke resistance area
- Likely to rise to resistance level 90.00
Silver recently broke the resistance area between the resistance level 83.000 (top of the previous minor correction a, as can be seen from the daily Silver chart below) and the 38.2% Fibonacci correction of the downward ABC correction ii from January. The breakout of this resistance area accelerated the active short-term impulse wave i – which belongs to the intermediate impulse wave 3 from the end of March – which is itself a part of the intermediate impulse wave (5) from November.
Given the renewed risk-on sentiment can be seen across the precious metal markets today, Silver be expected to rise to the next round resistance level 90.00 (target price for the completion of the active short-term impulse wave i).