Elliott wave analysis of Silver for February 8, 2022

Silver seems to have halted at support near 21.96 and is ready to challenge minor resistance at 23.43 and more importantly resistance at 24.70 that will be a strong indication that silver is ready to move impulsively higher towards 30.00 and ultimately towards the all-time high at 50.00.

That said, as long as resistance at 24.70 is able to cap the upside a final dip closer to 20.73 can't be excluded, but that is not our preferred outlook for silver.