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31.05.202106:51 Forex Analysis & Reviews: Elliott wave analysis of Silver for May 31, 2021

Exchange Rates 31.05.2021 analysis

Silver is ready to move higher to key-resistance seen at 29.86 and a break above here will open up for a continuation higher towards 49.89 in the month ahead. A failure to break above key resistance in this attempt, will call for a temporary set-back towards 26.46 before the next attempt to break above. Ultimately silver will break higher to rally towards the all-time high at 49.89.

Trading recommendation:

Buy silver for a rally towards 29.86 and ultimately a break above this key-resistance too for a rally towards 49.89.

*这里的市场分析是为了增加您对市场的了解,而不是给出交易的指示。

Torben Melsted,
Analytical expert of InstaSpot
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