FX.co ★ sudheerkumar | New wave of futures

Silver Slipped Below $60 _ But a Bounce Zone Is Here

In recent hours, Silver(XAGUSD) has fallen below $60.00 and is currently moving near the support zone($56.60-$54.40), Potential Reversal Zone(PRZ) , support lines, and the lower line of the descending channel. From an Elliott Wave perspective, it appears Silver is completing microwave 5 of the main wave 3. I expect Silver to begin increasing from the Potential Reversal Zone(PRZ) and support zone($56.60-$54.40), at least for the short term, aiming to rise again toward the resistance zone($60.00-$58.67) and around $60. Target: Resistance zone($60.00-$58.67) Stop Loss(SL): $54.10(Worst) Points may shift as the market evolves What’s your view on Silver? Do you think it will climb back above $60, or not?