Silver marks a low @ $15.185 on July-10 in early morning trading. Since than it traced out an impulsive, 5-wave, structure, which topped yesterday @ $16.675. A corrective decline, possible running flat, comes to $16.28, from where silver moved impulsiv to $16.735 in early Morning trading today.
As long as Silver trades above it`s 0.236 Level, now at $16.625 wave v is still in progress. A solid close under the 0.382 Level @ 16.56 brings the Pricelevel of $16.505, even the 0.5 RT into play.
The alternate is that wave 2 (circle) isn`t done @ $16..25, rather it is a wave a of c of a expanding or running flat. In my view is this a possible pattern, but not my favor! I´m still monitoring it.
As long as the Level of $15.45 (0.786 RT, shown by the red line on the chart) of the advance wave i (circle) is still in place my target is the area around $18.59 which is the 1.618 Extension Level of $15.185 to $16.75 to$ 16.28.
Have a great day
rubennase
As long as Silver trades above it`s 0.236 Level, now at $16.625 wave v is still in progress. A solid close under the 0.382 Level @ 16.56 brings the Pricelevel of $16.505, even the 0.5 RT into play.
The alternate is that wave 2 (circle) isn`t done @ $16..25, rather it is a wave a of c of a expanding or running flat. In my view is this a possible pattern, but not my favor! I´m still monitoring it.
As long as the Level of $15.45 (0.786 RT, shown by the red line on the chart) of the advance wave i (circle) is still in place my target is the area around $18.59 which is the 1.618 Extension Level of $15.185 to $16.75 to$ 16.28.
Have a great day
rubennase