Elliott wave analysis of Silver for April 7, 2021

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Silver bottomed nicely above key-support at 23.14 and the ending diagonal now looks complete and all we need is a break above the ending diagonal resistance-line at 25.36 to confirm the completion for a rally to the beginning of the ending diagonal at 30.10 and a break above here will activate a large Cup with Handle with an objective at 50.00.

Support is now seen at 24.41 and 23.78 with key-support remaining at 23.14.

Trading recommendation:

Buy a break above 25.36 and place your stop at 23.75.

The material has been provided by InstaForex Company - www.instaforex.com

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