Al3x
Long

Silver price update: Possibly breakout imminent

FX_IDC:XAGUSD   Silver/U.S. Dollar
This is an update on my Silver             price analysis that I published about two weeks ago. It appears we have finished the D leg and are now tracing the E leg of a giant ABCDE corrective pattern. Note that this is very bullish for Silver             as it is a counter trend pattern. Silver             has shown some very bullish moves from the start of this year and I think it is far from over.

The E leg could go down to as far as 18,60, but I assume it is not going that far to be honest. The trend line I drew plays a very meaningful role and I think it is likely that Silver             will hold there. Of course a spike below the trend line is all fair gain, however it seems to me unlikely to close below it.
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