September 10, 2020 at 03:24PM

• Silver reversed from support zone

• Likely to rise to 29.00

Silver recently reversed up with the daily Hammer from the support zone lying between the pivotal support level 26.00 (low of wave (b) from August) and the lower daily Bollinger band.

The upward reversal from this support zone stopped the previous minor downward impulse wave (i) – belonging to wave C from August.

Silver is likely to rise toward the next resistance level 29.00 (top of the previous long-legged Doji which marked the top of the earlier corrective wave B).

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From: The FxPro Tech Analysis Team
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