PAAS is still consolidating the impulse leg that went to the roughly $24 target I mentioned in my prior PAAS post. The move took out the two prior peaks that failed in 2016 and 2017. This was an extremely important hurdle and tells me that move has legs and some real room to run. I'm expecting a move down to the $19.77 area which has nice FIB support. Although I wouldn't rule out the possibility of the correction coming down to the downtrend channel breakout area, I think this is highly unlikely (SAVE A COMPLETE MELT UP IN THE MARKET). This would have everyone leaning the wrong way and even metals bulls frustrated. My SLV long position is protected with Feb 20 put options on PAAS which I would roll if things get real ugly. Based on the daily, weekly and even monthly timeframes we still need more time before the next move up. Be patient my friends. The old 2008 and 2011 highs in the $43-44 range will be a nice double.