Elliott wave analysis for Silver for October 14, 2021

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Silver is testing minor resistance of 23.19. A break above here will confirm that sub-wave 4/ has completed the test of 21.43 just one day before the cycle bottom. A break above minor resistance at 23.19 will call for more upside pressure towards the resistance line near 26.50. It may reach 30.09 and a strong push higher towards the all-time high near 50.00 may occur.

Support is currently seen at 22.35.

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

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