649bruno
Short

Is Silver Still Tarnished? SLV Suggests Yes: Part 1 Of 2

AMEX:SLV   ISHARES SILVER TRUST
28 0 5
The chart above is of daily time duration and I am using SLV             as a proxy for silver             . I detected a mutated bullish crab XABCD pattern. Some like to call this a bullish anti-crab. From my experience, when impulse leg D lies between X and A, then the retracement of D to A usually will pivot at Fibonacci .618, .50, or .382 before reversing to the downside. The negative clues on this chart would be the structure to the left at higher prices (resistance), and the down-trending Ichimoku Cloud . I would not make a bullish or bearish decision just on these two views. For a more complete picture, please move on to SLV             , Part 2. Yours for better trading, Don.
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