Silver

Trend Reversal :

After the bullish ending diagonal in Intermediate degree, unfolding five overlapping waves to the upside, as a leading diagonal in lesser degree, indicates the Silver’s medium-term trend may have turned up.

“A leading diagonal in the wave one position is typically followed by a deep retracement.” Hence, correcting through 0.618 retracement level of the leading diagonal is expected.

Note : Based upon these bullish structures it’s expected the August low at 13.93, as a significant extreme, remains intact.

Silver - Daily

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