This is an update on my Silver price analysis that I published about two weeks ago. It appears we have finished the D leg and are now tracing the E leg of a giant ABCDE corrective pattern. Note that this is very bullish for Silver as it is a counter trend pattern. Silver has shown some very bullish moves from the start of this year and I think it is far from over.
The E leg could go down to as far as 18,60, but I assume it is not going that far to be honest. The trend line I drew plays a very meaningful role and I think it is likely that Silver will hold there. Of course a spike below the trend line is all fair gain, however it seems to me unlikely to close below it.
The E leg could go down to as far as 18,60, but I assume it is not going that far to be honest. The trend line I drew plays a very meaningful role and I think it is likely that Silver will hold there. Of course a spike below the trend line is all fair gain, however it seems to me unlikely to close below it.
