currently initiated the pullback movement to the $18 area, corresponding to the 50% Fibonacci retracement
level from the lows at the end of the month of May to the highs of the beginning of July, and coinciding with two up trend lines
. Also around the end of May, the weekly long term GMMA (blue group of EMAs) crossed and started to expand upwards, indicating a high probability of more up moves for Silver
. If the $18 area holds and taking in to account the information from the GMMA, chances are that price could reach the $25 area, corresponding to a long term support/resistance
area and the 127% Fibonacci extension
of the pullback.
Let see what happens.
Happy trading all!