Elliott wave analysis of Silver for November 15, 2021


Silver has broken above the S/H/S bottom neckline. It should be headed higher towards resistance at 26.00. If it breaks above 26, it may approach the former high of 30. If this scenario comes true, silver may hit the all-time high at 50.

Support is seen at 24.86 and key-support is seen at 23.02. This support level is likely to protect the downside or we have a failed S/H/S bottom and the S/H/S target will be reversed to 17 instead.

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

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