Silver

Silver may have completed an impulsive wave (a) as initial subsequent of the likely deep retracement in progress. Currently, it appears the weakness in corrective wave (b) has begun its way down…

Fibonacci targeting :

An expected target for extreme of the overall corrective sequence as the wave ii of circle degree, could be around the Fibonacci 0.786 retracement level at 17.83. The ongoing wave ii (circled) will likely last through early April when is the Fibonacci time ratio 0.618.

Note : According to Elliott Wave Principle, “A leading diagonal in the wave one position is typically followed by a deep retracement.”

Silver - Intraday 600Silver - Intraday 240

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s