SILVER UPSIDE/CONSOLIDATION !!!
Silver completed AB=CD @ 16.34 (100%). It has a decent move to the upside however a few obstacles in the way before it does clear the path to the upside.
1. usually 382 TP1 target needs to be met or exceeded
2. equal moves from previous correction could be venerable to the downside/correction
3. Green trend line potential resistance nearer the 382 zone downside/consolidation
4. once all above have been exceeded then 618 resistance zone downside/consolidation
All of the above are resistance zones and probable to the consolidation as long as it is above 16.35-16.30 zone
Below 16.35-16.30 then risk of downside to 15.60s zone or lower.
1. usually 382 TP1 target needs to be met or exceeded
2. equal moves from previous correction could be venerable to the downside/correction
3. Green trend line potential resistance nearer the 382 zone downside/consolidation
4. once all above have been exceeded then 618 resistance zone downside/consolidation
All of the above are resistance zones and probable to the consolidation as long as it is above 16.35-16.30 zone
Below 16.35-16.30 then risk of downside to 15.60s zone or lower.
Break above 16.79 will be required for the uptrend to continue however resistance price zone still remain at 16.85/17.05/17.20
Caution warranted as downside is probable as 16.35-1630 has been breached, Close below 16.35-16.25 will validate 16.06-15.60's price zone.