XAGUSD Silver Bullish Bias for the week

26 Eyl 2016

Using Elliott Waves, have our Wave 4 correction to rejection at the .618 fibonacci level. Also we have respect of the trend line drawn from the bottom of Wave 2. First targets to aim for are the 1:1 market moves identical to Wave 1. Next target is the 1.618 extension of Wave 1 in confluence with our trend lines drawn off Waves 1 & 3. RSI (14) showing slight divergence, overall bullish trend continuation.