Elliott wave analysis of Silver for May 26, 2021


Silver is ready to test key resistance at 29.86. When it breaks this level, silver will move higher to the all-time high at 49.83. Ultimately silver should break above here too for a rally closer to 100.

Support is now seen at 27.46 that ideally should be able to protect the downside.

Trading recommendation:

Buy silver for a test of 29.86 and ultimately a break above here too for a continuation towards 49.83

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