Silver: ⬆️ Buy
– Silver reversed from support level 31.70
– Likely to rise to resistance level 33.50
Silver recently reversed from the pivotal support level 31.70 (which stopped the previous minor wave a at the end of April, as can be seen from the daily Silver chart below).
The support level 31.70 was further strengthened by the lower daily Bollinger Band and by the 38.2% Fibonacci correction of the upward impulse 1 from April.
Silver can be expected to rise to the next resistance level 33.50 (which stopped the previous minor impulse wave 1).
Source: Fxpro
