After the breakout on downward channel the price is now in a retrace phase. I'm looking for a new impulsive wave to the upside. A little more down possible, expecting a bounce around 0,618 fib line. Possible hidden bullish divergence on daily.
If the Silver will go up that means that the Dollar will drop. Any reason for that? You've got the Brexit comming, a possible rate hike in June. Should the Dollar not go Up in stead? And Silver go low?
To be honest i base my ideas on the price action, not in relation with other securities. Looking at monthly chart i see a strong breakout on a channel that last from 2014 followed by a retrace. So i'm expecting at least one more impulsive wave. If it fails it could be a double top with a possible reversal.