FX.co ★ Elliott wave analysis of Silver for August 24, 2023

Silver has rallied strongly from support near 22.11. We should soon see a firm test of resistance at 24.88. A break above here will call for a continuation towards strong resistance at 30.00. This resistance should ultimately be broken too. Once it gives away, we should see silver continue higher towards the all-time high at 50.00.

Support is seen near 23.40, which should act as a floor for a continuation higher.