30.05.202206:11 Forex Analysis & Reviews: Elliott wave analysis of Silver for May 30, 2022

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Silver is in the early stages of the next impulsive rally towards strong resistance near 30.00. We have seen silver stall at 30.00 twice before. However, the next attempt will be successful and a clear break above 30.00 will call for a continuation towards the all-time high at 50.00.

In the short term, we are looking for a test of minor resistance at 23.27. A break above here confirms the expected rally towards the strong resistance at 30,00 and likely higher.

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