Hello Traders, sometimes Markets move clear, sometimes they do not! In overnight Trading on July, 10 th a Sell off in Silver occurs, which brought Price to the Level of $ 15.145! This Levels marks the End of a Multiweek decline in the Precious Metal which started at April 17th at $17.74! The following advance ended may last Night in Overnightsession with another peak, this time to the upside to $16.96! This spike penetrated the rising orange Trendline, connecting the Low of June 22 at $16.225 and the Level at least at $16.96. This happens three times which makes that Trendline important. As a second acpect, it touches also the purpel line of the falling Trendchannel, connecting the High at $18.75 and nearly $17.75 and last night at $16.96! Now we see a cross resistance cluster! And the advance which started July 10th have retraced a bit more than 71% from $17.74 to $15.14! As a third aspect is the "Bearish Engulfing" yesterday which is an reversal Candle, got normaly eliminated with a higher High (not on a closing basis) this Night; so I think this peak was well calculated and not "Fat finger Trade"! If this advance was the first leg of a multiweek advance, we`re still in a correrction in a Wave 2 with targets around $16.27 - $15.84. Often Wave 2 move in a pattern of a ZigZag, which is not certain, but it occurs more often than it did not, also it is in line with EW rules or guidelines. For now, it`s to early in time and price to say what will be. So a second Day with lower levels did not make a bear market (:-)) and we have to wait for the next Days. As long as the High of $16.96 remains in tact a correction is on the move. The pattern in the next Hours will talk to us, and give us an idea of what will be next. Have great day... rubennase