• Silver broke resistance zone
• Likely to rise to resistance level 25.00
Silver continues to rise after the price broke the resistance area set between the minor resistance level 23.50 and the 61.8% Fibonacci correction of the downward impulse 3 from the start of September. The breakout of this resistance zone accelerated both of the active impulse wave (c) – which belongs to the higher order upward ABC correction 4 from the end of September.
Given the improvement in risk sentiment as seen across the precious markets today, Silver can be expected to rise further toward the next resistance level 25.00 (target price for the completion of the active impulse wave (c), top of wave 2 from the start of September).