• Silver falling inside medium-term wave (B)
• Likely to reach support level 23.00
Silver continues to fall inside the medium-term wave (B), which started earlier – when silver reversed down from the resistance zone lying between the pivotal resistance level 24.85, previous monthly high from September, upper daily Bollinger Band and the 50% Fibonacci correction of the downward impulse from June.
Given the clear daily downtrend, Silver can be expected to fall further in the active medium-term wave (B) toward the next support level 23.00 (former resistance from the end of September and the start of October).
