Silver Analysis: Potential Price Rise Ahead

Currently, silver remains at the median line of the downtrend. The price of silver should rebound from the downtrend line and jump soon. Hence, one could follow the candlestick formations around this downtrend to forecast the potential price movements.The price of the Euro rebounded from the broken downtrend and approached the resistance level of 1.0765. It might either rebound from resistance or break it and hit the psychological level of 1.1000 next. So, it would be very important to check the candlestick formations around these levels.British pound broke the downtrend, and therefore the asset’s price is likely to rebound from the broken downtrend, rise, and face resistance at the level of 1.2600. So, let’s observe whether this scenario is going to work out.