Written yesterday....
Hello Traders,
Silver Fut are on the Way to higher Highs with differernt Options to know.
Silver started it`s clear five wave move up at $15.185 and mark a high at $16.575. From that Level a correction started, shown a "Running Flat" Pattern (in my view) and retraced just a bit more as the 0.23 RT 0.98% 4.21% . A very shallow setback but acceptable in that case.
If the decline to $16.28 was a correction itself, (as a running flat is allowed to be), we`re in the early stages of a five Wave move up, with one more little push to the upside in Wave ((i)) , maybe in Overnight Trading on Monday Morning and a small correction on a lesser degree in wave ((ii)) will occur.
The purple cross line (shown on the chart) connects the Highs from $18.655 to $17.745 and will be a ressistance first. After bouncing in a wave ((ii)) a strong move to the upside will occur with higher Highs at hand.
The alternate view is, that the low set at $16.505 with the blue Wave II, is Wave a of an a-b-c Correction and lead Silver with one more down-up sequence to in a possible Flat correction to the area around $16.11 - $16.03!
No matter which pattern will occur, my view is that Silver is at the early stages of a strong move to the upside, targets first around $17.755! More bullish potencial exists.
Have a great day
rubennase
Update.....
Silver Fut advance is still in progress as favor.
The Metal set a new intraday High at $16.87 and touches the orange trendline as shown on the chart, which connects the low at $16.225 and the high at $16.81! From here a pullback may started.
For now the price is still bouncing on the purple trendline I described yesterday.
My view is following.
The move to $16.87 is Wave „b“ as a ZigZag of Wave (ii))! So if a sharp decline to the target area as shown with the labbels are still ahead.
Another possibility is, that the next step of advance has started from the blue Wave II at $16.505 which will extend. This is shown with the red labbels in doubleclip.
PS: I have updated my count. I`ve set the Wave I and II (blue) on the left side of the chart a bit lower, because Wave III (blue) would become to short in price as a Wave III normaly is! The origin count I`m now labbeling alt:i and alt:ii!
I.E: Comments/Questions a very welcome.......
Disclaimer*
All ideas published here involve risk and does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.
Hello Traders,
Silver Fut are on the Way to higher Highs with differernt Options to know.
Silver started it`s clear five wave move up at $15.185 and mark a high at $16.575. From that Level a correction started, shown a "Running Flat" Pattern (in my view) and retraced just a bit more as the 0.23 RT 0.98% 4.21% . A very shallow setback but acceptable in that case.
If the decline to $16.28 was a correction itself, (as a running flat is allowed to be), we`re in the early stages of a five Wave move up, with one more little push to the upside in Wave ((i)) , maybe in Overnight Trading on Monday Morning and a small correction on a lesser degree in wave ((ii)) will occur.
The purple cross line (shown on the chart) connects the Highs from $18.655 to $17.745 and will be a ressistance first. After bouncing in a wave ((ii)) a strong move to the upside will occur with higher Highs at hand.
The alternate view is, that the low set at $16.505 with the blue Wave II, is Wave a of an a-b-c Correction and lead Silver with one more down-up sequence to in a possible Flat correction to the area around $16.11 - $16.03!
No matter which pattern will occur, my view is that Silver is at the early stages of a strong move to the upside, targets first around $17.755! More bullish potencial exists.
Have a great day
rubennase
Update.....
Silver Fut advance is still in progress as favor.
The Metal set a new intraday High at $16.87 and touches the orange trendline as shown on the chart, which connects the low at $16.225 and the high at $16.81! From here a pullback may started.
For now the price is still bouncing on the purple trendline I described yesterday.
My view is following.
The move to $16.87 is Wave „b“ as a ZigZag of Wave (ii))! So if a sharp decline to the target area as shown with the labbels are still ahead.
Another possibility is, that the next step of advance has started from the blue Wave II at $16.505 which will extend. This is shown with the red labbels in doubleclip.
PS: I have updated my count. I`ve set the Wave I and II (blue) on the left side of the chart a bit lower, because Wave III (blue) would become to short in price as a Wave III normaly is! The origin count I`m now labbeling alt:i and alt:ii!
I.E: Comments/Questions a very welcome.......
Disclaimer*
All ideas published here involve risk and does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.