Silver Wave Analysis – 10 May, 2022

silver-wave-analysis-–-10-may,-2022

• Silver under strong bearish pressure

• Likely to fall to support level 21.00

Silver under the strong bearish pressure after the price broke below the long-term support level 22.00 (the previous monthly low from January and February).

The breakout of support level 22.00 accelerated the active intermediate ABC correction (2) from the start of March.

Silver can be expected to fall further toward the next support level 21.00 (earlier multi-month low from December, target for the completion of the active wave (2)).

Source: Fxpro

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