Silver has broken below the key support level of 55.00.
Analysts anticipate further declines toward the 50.00 support level.
The breach occurred within a support zone that previously contained wave (1) in mid‑July, wave B in early August, and wave 3 in mid‑October, as well as the down‑trend line established at the end of August.
This breakdown accelerated the active impulse wave 5 of the intermediate impulse wave (3) that began at the end of August.
Given the prevailing daily downtrend, silver is expected to continue falling toward the next round support level of 50.00, which serves as the target for completing impulse wave (3).
