- Silver reversed from key support level 35.50
- Likely to rise to resistance level 37.20
Silver recently reversed up from the key support level 35.50 (which stopped the previous minor correction iv at the start of June, as can be seen from the daily Silver chart below).
The support zone near the support level 35.50 was strengthened by the 20-day moving average and by the 38.2% Fibonacci correction of the sharp upward impulse from May.
Silver can be expected to rise to the next resistance level 37.20, which stopped the previous sharp impulse wave 3.
- Likely to rise to resistance level 37.20
Silver recently reversed up from the key support level 35.50 (which stopped the previous minor correction iv at the start of June, as can be seen from the daily Silver chart below).
The support zone near the support level 35.50 was strengthened by the 20-day moving average and by the 38.2% Fibonacci correction of the sharp upward impulse from May.
Silver can be expected to rise to the next resistance level 37.20, which stopped the previous sharp impulse wave 3.
Alexander Kuptsikevich,
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Alexander Kuptsikevich,
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.