Elliott wave analysis of Silver for April 27, 2021


It should just be a matter of time before key-resistance at 26.62 is broken and silver can continue higher towards the next resistance near 30.00. Ultimately we expect this resistance to be broken too for more upside pressure towards 49 in the months to come.

Short-term, we could see silver dip to support near 25.61 before pushing higher through key-resistance at 26.62 for the next impulsive rally higher to 30 and above.

Trading recommendation:

Buy silver near 26.60 or upon a break above key-resistance at 26.62.

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