Loading ...SLV: Weekly
We’ll have to wait for the end of the week to confirm, but with today’s price action, Silver is indicating that wave 2 is now complete and explosive wave 3 is underway…with a 1.618 target of appx $22.59 and possible (extended) 2.618 target of about $27.24:
Hi RTV, I’m a long-term bull but I actually think silver only has a little bit of upside left before continuing this correction which will turn out to be a rising flag just like the little flag like pattern it made at the previous trading range.
In EW terms, it might be an x wave before the Y. I’m not an EW adept so excuse any terminology mistakes I’m making here.
scofield –
sure – it could be the start of wave 3, or turn out to be a running flat correction, or an expanded flat correction. price action will dictate.