38,2 really was silvers object of desire!

COMEX:SI1!   Silver Futures
These days we have the answer to my in my former view asked question: Will the Fibo 38,2 or the 61,8 be the object of desire? - Yes it was the object of desire.
We have diped down to the 38,2 which was corresponding to the max. tp of my in my former Analysis illustrated bearish H&S .
"Have we seen the top?" This is an Action Point where a decision has to be made. The RSI 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!

Former views:
Will the Fibo 38,2 or the 61,8 be the object of desire?

These days, the RSI generatet a shortsignal in this timeframe.
Prices above 19,2$ are still bullish (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 bullish momentum into bearish - the next TPs could be the uptrendline @ 17.25$ or the holy fibo 61,8 @ 16,5$ - here is also based the EMA 200as a supportlevel.
Prices above 21,25$ seem to be strong bullish

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 resistance level wehre a decisicion can be made:

1. Trying to catch the Breakout through the big resistance level 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 bullish for me. I see a bullish flag with buy-Trigger at 16$ (stopbuy) Silver has crossed the sma 200 - this could be seen as a longterm buying-signal.
Comment: next longsignal..
Comment: yeah
Comment: nice


Silver is flexing muscles! Thanks for the update.
Exciting to see whether the 38.2 retractment will be the final. I think so. The USD will have to abandon it's intermediate cycle decline for pullback in silver to be more severe I believe.
The 38,2 is just the minimal correction Level. Some currencies /commodities tend to retrace to ist maximal Level. - so let`s see if the 38,2 will be final :-)
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