FX.co ★ Elliott wave analysis of Silver for April 5, 2022

The 133 bar cycle bottoms today and the cycle should start to head higher support silver in the coming weeks. We would like to see a break above minor resistance at 25.08 and more importantly a break above resistance at 25.85 as confirmation for the next impulsive rally towards 30.00 and ultimately higher towards the all-time high at 50.00.

Only a break below support at 23.85 will delay the expected rally higher in the weeks ahead.