FX.co ★ Elliott wave analysis of Silver for July 14, 2022

Silver is testing support in the 18.50 - 19.27 area. The final decline in wave 5 of C could terminate anytime now for the next impulsive rally towards 30.00 and ultimately towards the all-time high near 50.00.

Short-term we need a break above minor resistance at 20.90 to indicate waves C and 4 have completed, while a break above resistance at 22.51 confirms that the next impulsive rally towards and above 30.00 is in motion.