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Elliott wave analysis of Silver for May 26, 2021

analytics60add58ab0ff6.jpg

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