FX.co ★ Elliott wave analysis of Silver for May 26, 2023

Silver has now tested support at 23.00 and could move a bit lower to test 22.66, but all requirements have now been fulfilled and silver could complete the correction in wave ii anytime now for the next impulsive rally through minor resistance at 24.21 towards 26.13 on the way higher to strong resistance near 30.00.

Ultimately, we see a break above strong resistance at 30.00 too, but for now, we will be looking for strong signs of wave ii being complete and wave iii in motion.