Silver since the Dec 2015 lows has moved substantially higher...Lookk at the wave structure shows that silver advance is overlapping -- Leading diagonal fashion...The leading diagonal seems to have finished at high of 21.1...Now there should be a good deepreatracment which should take silver to around 17.5 lvls...
Comment:
Silver completed the expanding leading diagonal and is correcting now...diagonal are generally followe by deep retracement....lets see the price action at the lower trendline...
Trade closed: target reached:
We have reached bottom of trendline....Out 1st tgt is done....Partial profit taking and for rest of the position assess the price action at teh trendline....Decisive break of teh trendlinw will take prices to 17.5 lvls.
Trade closed: target reached:
Reached second target also....closed all shorts....Now wait for signs of reversal...