6 Apr 2021 ● 06:25 AM
Silver is bouncing back from weekly support levels near 24.23 and 23.25. the daily momentum is in buy mode and we could start wave 3 up from here. Further confirmation on a close above 25.44. Then we can go back to the top end of the range at 30.
Weekly momentum is back below zero so that cycle is complete. Daily charts show wave Y as a wedge/triangle pattern and we will break out of it above 25.44. The larger trading range of the last 6 months has its top end at 30$. If wave 3 of larger degree has indeed started we will get past 30$, so watch for that breakout when it gets there.