Sunday, October 2, 2016

Silver - Set to extend decline before a decent rally

After 3 waves down from 21.11 the shiny stuff was stuck in a triangle for the last 6 weeks. And because the move started with 3 waves we now can assume that the (not yet complete) full decline from 21.11  is corrective and that we will see higher prices later on. 

A drop below 18.90 would confirm that the triangle is complete and that we will see a new 3-wave decline from here.