SILVER Impulsively Declining; Probable Support Around 16/17 Zone

FX_IDC:XAGUSD   Silver / U.S. Dollar
Silver             broke beneath 18.30 level but higher degree charts still show a three wave decline from above 21.00 area. It's a correction within ongoing uptrend that will be expected to resume later this year. We see room for current wave C to 16-17 area where market may look for a support.
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greg, fell asleep on this one, off to the races now!
Hey Tom, anyway the bottom is now at the 17.065 level... so recent upwards movement may be a start of a new bullish cycle.
+1 Reply
Excellent idea! Thank you for sharing.
Grega, that's a pretty broad area. And also long term what do you think after that, new highs or what
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