Silver Wave Analysis - 30 October 2026
Published on October 30, 2026
Market Overview
As of October 30, 2026, the silver market is experiencing a significant downturn. The current price of silver is noted at $50.755, reflecting a decrease of 2.66%.
Technical Analysis Summary
The analysis indicates that silver has recently breached a critical support level at $55.00. This level had previously acted as a strong barrier, halting downward movements during various waves throughout the past months:
- Wave (1) in mid-July
- Wave B at the start of August
- Wave 3 in mid-October
The breakdown of this support zone has intensified the ongoing impulse wave 5 of the intermediate impulse wave (3), which began at the end of August.
Future Projections
Given the prevailing strong daily downtrend, it is anticipated that silver prices will continue to decline, with a target price set at the next significant support level of $50.00. This level is expected to mark the completion of the active impulse wave (3).