FX.co ★ Elliott wave analysis of Silver for May 22, 2023

Sliver should correct closer to 22.95 in wave ii before the next impulsive rally higher towards the strong resistance at 30.00. Ultimately, we expect strong resistance at 30.00 to be broken too for a move towards the all-time high at 50.00.

However, for now, look for a move a bit closer to the 50% corrective target at 22.95 before the next rally higher.