Silver is closing in on its 17800 resistance line which has hold multiple times since october. I presume the price will stop at this resistance at first and then may head lower as a sign of a correction. Then, if the bottom is higher than last high it can mean the continuation of an uptrend. Watching closely.
Additionally gold looks to be carrying silver upwards....
Watch and see if the analysis is correct although I would still miss a low. If we can count with 12345 of the wave (1), then I will examine the correction pattern of the wave (2) with abc in more detail, in order then to find the entry and take the wave (3). But this will probably take several months.
At the time of publishing this report gold is trading at around $1220(our entry price) whereas white metal is Trading lower at $14.16 which implies that our position in silver is already running in profits and we believe it' going to hit the target very soon along with the sharp downside fall in yellow metal prices.
we witnessed a sharp downside fall in silver...
We all know why gold stocks should go higher. It looks like (HUI) found a bottom and started to trade higher. I use my unique trading strategy based on Fibonacci numbers and Golden spiral.
Hope this idea will inspire some of you !
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Kindly,
Phil
