FX.co ★ Elliott wave analysis of Silver for July 15, 2022

Silver has now seen a firm test of the 18.50 - 19.27 target area. The low has been seen at 18.35. We could see silver make another stab on the 18.35 low, but all requirements for the decline from 30.00 has now been fulfilled. It's just a question of time before silver has completed the corrective decline in wave 2 and the impulsive wave 3 takes over for a new rally to 30.00 and above.

The first good indication that wave 2 has completed is seen upon a break above minor resistance at 19.48 and more importantly upon a break above 20.87.