- Silver broke resistance area
- Further gains are likely
Silver recently broke through the resistance area lying between the resistance level 14.80 (which reversed the price multiple times from October) and the 50% Fibonacci correction of the previous downward impulse from July.
The breakout of this resistance area accelerated the active short-term impulse wave C – which belongs to the medium-term ABC correction (4) from September.
Silver is expected to rise further and re-test the next resistance level 15.60 (former resistance from July and the target price for the completion of the active impulse wave C).
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