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FX.co ★ Elliott wave analysis of Silver for April 7, 2021

Elliott wave analysis of Silver for April 7, 2021

Elliott wave analysis of Silver for April 7, 2021

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 market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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