- Silver broke the key resistance level 39.50
- Likely to rise to resistance level 41.00
Silver recently broke above the key resistance level 39.50 (former top of wave (3) from the middle of July, as can be seen from the daily Silver chart below).
The breakout of the resistance level 39.50 continues the active short-term impulse wave 3 of the intermediate impulse wave (5) from the end of July.
Given the strong daily uptrend, Silver can be expected to rise to the next resistance level 41.00, target price for the completion of the active impulse wave 3.
By the FxPro Analyst Team
Follow our dedicated Telegram channel t.me/fxpro for insightful market analysis and expert commentary.
Reach out to media.comments@fxpro.com for PR and media inquiries
Follow our dedicated Telegram channel t.me/fxpro for insightful market analysis and expert commentary.
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.
By the FxPro Analyst Team
Follow our dedicated Telegram channel t.me/fxpro for insightful market analysis and expert commentary.
Reach out to media.comments@fxpro.com for PR and media inquiries
Follow our dedicated Telegram channel t.me/fxpro for insightful market analysis and expert commentary.
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.