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FX.co ★ Elliott wave analysis of Silver for April 28, 2022

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Forex Analysis:::2022-04-28T05:48:36

Elliott wave analysis of Silver for April 28, 2022

Elliott wave analysis of Silver for April 28, 2022

Silver has filed to take advantage of the potential double bottom that was triggered after the break above 25.39. It means silver could go all the way back to support near 21.65 before heading higher again towards resistance at 30.00 and a break above here will propel silver higher to the all-time high at 50.00.

That said, only a direct break above minor resistance at 26.31 will shift the current downforce to renewed upside pressure and a re-test of resistance at 30.00.

Analyst InstaForex
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