Silver Wave Analysis – 14 December , 2018

  • Silver reversed from resistance area
  • Further losses are likely

Silver today reversed down from the resistance area lying between the key resistance level 14.80 (which has been reversing the price from the start of October), upper daily Bollinger Band and the 50% Fibonacci correction of the downward impulse from July.

The downward reversal from this resistance area stopped the previous short-term impulse wave C of tie medium-term ABC correction (4) from the start of September.

Silver is expected to fall further and re-test the support level 14.32 (low of the previous short-term correction (ii) from the start of December).

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