Given the strength of the active medium-term impulse wave (3) and the prevailing uptrend that can be seen on the daily and weekly charts, Silver can be expected to rise to the next round resistance level 100.00.
- Silver broke resistance area
- Likely to rise to round resistance level 100.00
Silver recently broke the resistance area between the key resistance level 86.00 (which stopped wave (1) at the start of February, as can be seen from the daily Silver chart below) and the 38.2% Fibonacci correction of the downward ABC correction 2 from the end of January. The breakout of this resistance area accelerated the active medium-term impulse wave (3), which belongs to the long-term impulse wave (C) from the start of February.
Given the strength of the active medium-term impulse wave (3) and the prevailing uptrend that can be seen on the daily and weekly charts, Silver can be expected to rise to the next round resistance level 100.00.
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