Come on Ralph, don’t let me down!
I originally posted this silver chart a few weeks ago, pointing out that if a B wave triangle was developing, silver should reverse upwards and eventually go to $30 in the short term. The triangle is still intact and this would be the ideal level for an upwards reversal. Everyone seems to be expecting lower prices, so I will stick with my plan and hold my silver miners for now. Stay tuned….
At this point, I am prepared to see $13 silver again. $20 is the 200 WMA and $18 is the 400 WMA.
I don’t see any stop to silver’s fall until the Fed reverses course. Any bounce, even minor, will probably be shorted into oblivion until then.
Who is Ralph ?
What about Bob ?
The chart looks doable
Ralph Nelson Elliott, the creator of the EW theory, since I am using his work to map out this triangle.