SLV - Likely to Bottom in November
The next couple of days will determine the time horizon for Silver to complete the larger degree wave (2) correction.
Wave 4s are known to be the most unpredictable ones as they can extend for a long time and are more likely to take complex forms than wave 2s.
Given the current price movement, SLV is either going to move up as a wave c of iv to reach the mid 17s or complete as an ascending triangle in the mid 16 range, before the last leg down as a v of C that will signal the end of this correction and the resumption of the bull market sometime in November.
Wave 4s are known to be the most unpredictable ones as they can extend for a long time and are more likely to take complex forms than wave 2s.
Given the current price movement, SLV is either going to move up as a wave c of iv to reach the mid 17s or complete as an ascending triangle in the mid 16 range, before the last leg down as a v of C that will signal the end of this correction and the resumption of the bull market sometime in November.
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