Silver

Will Silver’ongoing-decline be extended to lower levels in the coming weeks?

In a bearish alternate-view on the weekly chart frame, the bearish strength of leading diagonal concept as wave (1), would infer to extend the following waves on the down trend persistently. And hence, the fifth wave of the five-wave sequence A(circled), may be extended to lower levels.

Based on the bearish view, the expected fibonacci target for the wave (5) of A(circled), could be around the 7.00 level, where be established the ratio of 0.618 with the wave (1).

Silver - Weekly

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