Gann Box
Silver to $27 beginning of 2021?Silver has gained about 1000% in about 8 years from $4 in 2003 to about just under $50 in 2011.
From there Silver retraced 78.6% to about $13.80.
The current recovery has seen a near 40% gain.
Current estimate is that Silver will reach close to $23 by tax time 2020 and then reach further to about $27 in the beginning of 2021.
CLX9 Fading Short SetupSeemingly oil has run into the supply area via profit booking. The traders are reducing short risk exposure and are likely to enter for continuation on a pullback. The fading short setup looks valid at this point. However, in the context of the recent price action, the probability of this trade is not the best that we could have.