• Silver reversed from resistance area
• Likely to fall to support level 27.10
Silver recently reversed down from the resistance area lying between the powerful resistance level 28.50 (which also reversed the price in the middle of May) and the upper daily Bollinger Band. The downward reversal from this resistance area created the daily Japanese candlesticks reversal pattern Shooting Star – which started the active impulse wave 3.
Silver currency pair can be expected to fall further toward the next support level 27.10 (which reversed the previous impulse wave 1 in the middle of May), intersecting with the lower daily Bollinger Band.