Silver: ⬆️ Buy
– Silver reversed from strong support level 71.25
– Likely to test resistance level 91.30
Silver recently reversed from the support area between the strong support level 71.25 (which stopped previous corrections iv and a), lower daily Bollinger Band and the 61.8% Fibonacci correction of the upward impulse from December.
The upward reversal from this support zone continues the b-wave of the active ABC correction 2 from the end of January.
Given the strength of the support level 71.25 and the oversold daily Momentum, Silver can be expected to rise to the next resistance level 91.30.
Source: Fxpro