This 3 day charts shows basic retracement levels, percentage increase levels from the current low and angle relationship based support & resistance areas. So far, the oil market saw a sharp surge from the low $42, a longterm demand area, and currently it seems there's still some room for further upside. This move up can be regarded as a retracement leg within a...
Notice the crossings of the trend line with the horizontal fib levels and red pl lines. We often see a change or acceleration of a trend during those periods.
The obvious 20-year long wedge pattern has a focus of 10 May at 17.2 - I expect it to break down before then, test higher prices and then crash to $10 levels to complete the medium term downtrend.
The GannBox and Arcs have been very informative for this Silver downtrend (as well as at shorter timescales). Note the way the medium term GannBox meshes with the...
