Silver decline lasts too long

04 May 2022 150
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Silver prices have been rapidly falling for the last two weeks. The decline of more than 15% has occurred since the price reached its local maximum on April 18. Isn’t it time for the bulls to take the offensive?

The Fed meeting is scheduled for today. As a result of the previous Fed meeting, silver stopped its decline. There’s a possibility of price increase this time too, and such facts as the resold RSI and the hammer appeared in the chart also support this possibility.

The growth goal is the Fibonacci level of 61.8% (at the point of 23.7).

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