Silver

The bearish outlook :

After correcting the leading diagonal wave (i) through its Fibonacci 0.618 retracement level, Silver seems to have begun its way down.

The outlook is bearish against the 16.76 through the initial target at 14.91, in anticipation of the decline in third waves ahead. The next target is 13.76, where wave (iii) equals 1.618 times the length of wave (i) – a common relationship.

Silver - Intraday 600

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 )

Google photo

You are commenting using your Google 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 )

Connecting to %s