Silver be expected to rise to the resistance level 77.00, which stopped previous waves I and i at the start of March.
- Silver reversed from support level 64.50
- Likely to rise to resistance level 77.00
Silver recently reversed from the support area between the key support level 64.50 (multi-month low from February, as can be seen from the daily Silver chart below), lower daily Bollinger Band and the 61.8% Fibonacci correction of the upward impulse from the middle of 2025 . The upward reversal from this support area formed the daily Japanese candlesticks reversal pattern Hammer, which stopped the previous minor impulse wave iii of the sharp impulse wave (c) from the end of February. This hammer started the active correction ii.
Given the strength of support area near the key support level 64.50, Silver be expected to rise to the resistance level 77.00, which stopped previous waves I and i at the start of March.
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