My vision on Silver is still the same as described over a month ago:
Price of XAGUSD reached 200 day moving average (green line) while 18.24/oz is a 0.618 fibo. Please also have a look at the stochastic indicators below the chart.
In my perception price of silver will move slightly up or sideway, touching red box. The main downward move will happen in mid-March when J.Yellen will decide or not decide on changing interest rates.
Trade active
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Trade is still active, please watch "SILVER INVESTORS: Prepare For This Opportunity"
If only it wasn't suppressed by corrupt banks, it would certainly shoot up to Jupiter :)
Ignoring that, it certainly has to come down to around 17.24 as a retracement.
OmarForexef
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I THINK we don't have to re-test the lower trend lint at 14.60 before heading up , testing 19.60 and maybe 20.40 and maybe above that is expected to be seen before the next FED'S meeting. the bottom were already formed at 15.60
And I expect to see 19 -20 next week. This scenario will be vanished if we close today FRIDAY under 17.60 or at anytime we break 17.25
Simon_says
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@OmarForexef, Thanks for your comment, ~19.50/oz is 0.786 fibo, even if price will reach that point I will still expect lower re-test.
Secondly, Trump wants to introduce tax cuts, that in theory will increase customer money spending, push dollar index higher and decrease price of precious metals.
For this reason I assumed, price of XAGUSD will move south before going very, very high.
Ignoring that, it certainly has to come down to around 17.24 as a retracement.