38.2 which is a typical retracement for waves 4. The Bollinger bands are starting to narrow which indicates a price movement towards the middle. On top of these, we have also indicated that the USD index is going up in the short term. With the stock market approaching an intermediate cycle high, we can safely conclude that silver should correct further in the short term.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.