Silver - Long Possibility - Updated
Commodities: Silver
Frequency: Daily
Predicted Direction:
Silver has completed its corrective Wave II like what I predicted before and find support on the 50% Fib support level at 16.338. I expect this is a sharp correction for Wave II and the price will able to hit the upper resistance zone of 18.713 - 19.46 and further look at the high of July 15 at 21.132 in the long term. However, If the price fail to surge higher and come back to 50% Fib level then it would be a signal of a relatively flat correction and we have to wait until the 61.8% Fib support level is reached for another long possibility.
Frequency: Daily
Predicted Direction:
Silver has completed its corrective Wave II like what I predicted before and find support on the 50% Fib support level at 16.338. I expect this is a sharp correction for Wave II and the price will able to hit the upper resistance zone of 18.713 - 19.46 and further look at the high of July 15 at 21.132 in the long term. However, If the price fail to surge higher and come back to 50% Fib level then it would be a signal of a relatively flat correction and we have to wait until the 61.8% Fib support level is reached for another long possibility.
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