We have diped down to the 38,2 which was corresponding to the max. tp of my in my former Analysis illustrated .
"Have we seen the top?" This is an Action Point where a decision has to be made. The signs a weak Long-signal
Supports: 18.4/18,3/ 17.4/
Resists:19.25 (central) / 20.20/ 20.75
Feel free to comment my ideas - Agree or Disagree!
Will the Fibo 38,2 or the 61,8 be the object of desire?
These days, the generatet a shortsignal in this timeframe.
Prices above 19,2$ are still (shortterm)
Prices below 19,2$ will perhaps cause a dip to the 38,2 fibo @ 18,3$ This Level is corresponding to a former high in the beginnings of 2015 and near the top from 05/2016.
Prices below that minimal correction Level (38,2) will turn the momentum into - the next TPs could be the uptrendline @ 17.25$ or the holy fibo 61,8 @ 16,5$ - here is also based the 200as a supportlevel.
Prices above 21,25$ seem to be strong
Further Up-Wave ahead?
Silver reached the TP (TakeProfit) of my former Analysis
Silver ready for Takeoff?
Silver is trading at it s Make or Break-Level @ 16.0$.
This Level is the key wehre a decisicion can be made:
1. Trying to catch the Breakout through the big with a Long Position entry 16,05 sl 15,4$ TP 17.20
2. You don`t believe the resistance will break? Then a short Position at the actual level could be interesting. Entry @ 15,97, SL 16.20 and TP 14.90$
The Chart seems to me for me. I see a with buy-Trigger at 16$ (stopbuy) Silver has crossed the 200 - this could be seen as a longterm buying-signal.