Hello Traders,
Silver 0.18% Fut are on the Way to higher Highs with differernt Options to know.
Silver 0.18% 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 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 with 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 0.18% 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 0.18% 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
I.E: Comments/Questions a very welcome.......