FX.co ★ Trading idea for silver

Silver is perhaps the only asset that remained on the highs after the 2020 crisis. The main reason is that investors consider it not only as a precious metal, but also as an industrial and technological one. Its use also continued to expand over the years, from being an automotive catalyst to a component in solar panels and 5G broadband wireless data transmission networks (fifth generation technology).

Considering all this, investors could provoke a further price increase by using the "Impulse Strategy".

Since there is a three-wave pattern (ABC), where wave A represents the buying pressure last year, investors can open long positions to set off a 50% pull back from $ 20. Place stop loss at $ 12 and then take profit on the breakdown of $ 30 and $ 50.

Good luck!