Silver Weekly Fibonacci Levels Well Respected Target $19.60

3 Eyl 2019

Throughout the recent rally in silver, you can see that Fibonacci levels have well respected at every level.

Pullbacks occurred at 0.236, 0.385, 0.5, 0.618, followed by a (sometimes short) period of consolidation.

0.786 ($19.60) will be a price level to watch, which may provide an opportunity to enter with trend on a pullback. If you follow this level back to 2016 you will see a cluster of candles that have weekly close price around this level indicating an area of significant resistance.

As of now, all fundamentals support a move higher in the long run. Gold / Silver ratio has started to break down, which I mentioned in a previous idea.

4 Eyl 2019

Not

Within a penny....
Not sure how big of a pullback we're going to get though.