Short term the situation looks like this in silver. The minor cycle in my related idea caught todays high and the more important cycle continues down. I identified the area where we will find support and where shorts should be closed and longs open. Longer term silver is still extremely bullish.
Note
Silver still has plenty of time to bottom.Note
Fresh update is already uploaded.Note
As you can see the cycle worked out perfectly. I was off in my price target but an update was made at the time regarding this, where I raised the price target to a higher trading range which came out correct and actually caught the 25.8 low with a 5% slippage. The forecasted move from 30 corrected around 15%, meaning we still caught 2/3 of the move - not too bad.
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Related publications
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.