empty
 
 
You are about to leave
www.instaforex.eu >
a website operated by
INSTANT TRADING EU LTD
Open Account

07.05.202106:10 Forex Analysis & Reviews: Elliott wave analysis of Silver for May 7, 2021

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Exchange Rates 07.05.2021 analysis

Silver is on the move again, after a short consolidation period silver is set to move higher towards the next minor resistance at 28.32 and then the key-resistance at 30.09 and a break above here will open up the upside for a rally back to the all-time high at 49.83.

Ideally minor support at 26.09 should act as a floor, but a break below here will call for a dip to 24.78 before renewed upside pressure.

Trading recommendation:

Buy silver and place you stop at 26.05

Torben Melsted
Analytical expert of InstaForex
© 2007-2024

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.




You are now leaving www.instaforex.eu, a website operated by INSTANT TRADING EU LTD
Can't speak right now?
Ask your question in the chat.

Turn "Do Not Track" off