FX.co ★ Elliott wave analysis of Silver for April 11, 2023

Silver has broken above the resistance line from 30.09. This indicates that silver has completed its corrective wave over the last 2 years. From now on, the metal is ready for the next impulsive rally past the former high at 30.09 towards the all-time high at 50.00.

Short-term we could see a temporary setback close to 22.58 before the next impulsive rally really takes over as the price pushes above resistance at 30.09 towards the all-time high at 50.00.