A potential cup and handle pattern was forming around a possible wave 2/wave 3 transition that would have finished in a bigger move that roughly lined up with $50 silver around the end of the year.
The initial move off the March low didn't follow fib levels but does resemble a 5 wave move followed by some consolidation so it was primed for a move which is the basis for the wave 1 theory. Wave 2 bounced to plan then fell back but held the 61.8.
But now the silver squeeze is gonna rocket this for at least a couple of days then there could be a violent retrace smashing the cup and handle to pieces. The wave 3 range had plenty of room for some major volitility so the long gane is still on.
First publish, so probabaly rubbish.
The initial move off the March low didn't follow fib levels but does resemble a 5 wave move followed by some consolidation so it was primed for a move which is the basis for the wave 1 theory. Wave 2 bounced to plan then fell back but held the 61.8.
But now the silver squeeze is gonna rocket this for at least a couple of days then there could be a violent retrace smashing the cup and handle to pieces. The wave 3 range had plenty of room for some major volitility so the long gane is still on.
First publish, so probabaly rubbish.