For the last 54 bars or 378 days Silver has been in a typical Elliott wave 4 pennant on the weekly chart witch now have panned out.
The pennant shows up as a perfect symmetrical time pattern of 2 times 27 bars or 2 times 189 days.
The last e wave comes perfectly back to the middle of the pennant and is now ready for the 5th wave down.
If the time pattern continue silver is 2 bars into its 3 period of 27 bars.
The ABCD target gives a possible target of approx.13.787
Right now I'm therefore bearish on silver
As always - time will show!
Safe trading ladies & gents!
BM
Music at work:
open.spotify.com/tra...ak3dYvMKB2HOfSxh4nwc
www.youtube.com/watch?v=J1Fz-U8l...
What a beauty: www.classics.com/images04/pb04-04.jpg
The pennant shows up as a perfect symmetrical time pattern of 2 times 27 bars or 2 times 189 days.
The last e wave comes perfectly back to the middle of the pennant and is now ready for the 5th wave down.
If the time pattern continue silver is 2 bars into its 3 period of 27 bars.
The ABCD target gives a possible target of approx.13.787
Right now I'm therefore bearish on silver
As always - time will show!
Safe trading ladies & gents!
BM
Music at work:
open.spotify.com/tra...ak3dYvMKB2HOfSxh4nwc
www.youtube.com/watch?v=J1Fz-U8l...
What a beauty: www.classics.com/images04/pb04-04.jpg
