Cincinnatuus
Short

SILVER Look Ahead for week starting 12/01/19

TVC:SILVER   CFDs on Silver (US$ / OZ)
Silver has been in a deep correction of a Bull Market since July of 2013, with price trading above the 50 week ema , which is below the 200 ema , and both still above the 800 week ema . The 50 week ema is currently trending up, though price has traded down to test the 30 ema and 200 ema around 16.7. A bounce off of those emas is in progress.

The Commodity is in a correction of a Bull Market with price trading below the 50 day ema , though the 50 is above the 200 and 800 day emas. The 50 day ema is currently down trending, though price is still channeling between down trend lines . Looks like a measured move is setting up for price to trade down to a consolidation equilibrium point down in the low 15’s over the next month. This would finish out a poly-wave of two simple flats connected with an x-wave .

The Commodity is in a Deep Correction of a Bull Market on the 4 hour, with the 50 ema below the 200 ema , yet both are still above the 800 ema . Price is in a consolidation/corrective pattern, and should trade between the 200 and 800 emas. Looking at the trading picture, I would look for price to trade up to finish out the e-wave of the triangle at the beginning of the week, before pushing lower in five waves down. A likely down side target for the week in that case would be 16.328.

This is my SILVER look ahead for my own trading purposes. COMMODITIES trading involves risk. Feel free to comment, but trade off of this post at your own peril.
Dec 07
Trade active: This idea was pretty much dead on for last week. Currently, Silver is still in the process of pushing down to an equilibrium point at 16.328.
you killed it ! Do you think silver will drop below 16? please post an update next week
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Cincinnatuus comanderrich61
@comanderrich61, Thanks! Better to be killing it, than they other way around.. ;]
Going to try to post, but have to X-mas shop.
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