Silver Wave Analysis – 2 April 2025

- Silver reversed from the support area
- Likely to rise to the resistance level 34.50

Silver recently reversed up from the support zone between the support level 33.50 (former monthly high from February), 20-day moving average, support trendline from February and the 50% Fibonacci correction of the upward impulse from March.

The upward reversal from this support area continues the active impulse waves iii, 3 and (C) – inside which Silver has been moving since December.

Given the strong daily uptrend, Silver can be expected to rise to the next resistance level 34.50 (the former monthly high from last month).