Silver - possible ABC correction
The price of silver has significantly collapsed this week. It seems that the decline in recent days is the biggest drop since 2011. However, the whole correction could be in line with the previous assumptions about simple ABC correction.
Currently, the market is testing the equality of corrective waves labeled as wave A and C. The C wave has reached the lower limit within a downward channel and also 100 percent of Fibo expansion measured for waves A and B.
However, to confirm the whole structure, the market should defend the level of 22 USD and should move to the upper limit in the mentioned channel.
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Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Currently, the market is testing the equality of corrective waves labeled as wave A and C. The C wave has reached the lower limit within a downward channel and also 100 percent of Fibo expansion measured for waves A and B.
However, to confirm the whole structure, the market should defend the level of 22 USD and should move to the upper limit in the mentioned channel.
________
Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.