Silver: Possible long trade set-up evolving

11 сент. 2016 г.

This analysis shows a possible LONG set-up for silver. I believe silver started a new bull trend since it bottomed late last year. The price action since the surge after Brexit looks very much corrective. Silver appears to be tracing a fourth wave correction. As long as the critical support level holds around 18,50 the bulls are in control. A run above the descending green line is a first signal that we might have left the correction behind us.

I started doing technical analysis a few months ago, so I still have a lot to learn.

Please let me know what you like/dislike about this analysis.