From 13.51$- Silver completed its 1st wave at 20.81$ & has been doing very choppy move since that top & most likely to complete this correction at 61.8% of 1st Green Wave in the zone 16.20-16.30 $ range -if that zone holds then most likely Silver should move sharp upside.
Gold -looking for 1300+ Move in coming...
I still expect a pish up on DXY and, as a consequence, a move down on Gold and Silver. Spotted a possible Gartley pattern which correlates with a bounce down from the Hagopian Line of my bearish fork.
Will take a short position on a Hagopian re-test or when price breaks back into a bearish fork.
AS you can see in my related strategy linked below I'm expecting the start of 3rd elliott wave on medium/long term, but in the short term silver could bounce on indicated level (triangle pattern on the chart) before continuing its bullish trend.
Pay attention if silver break out bullish channel line and GL.
This hypotetical move down correlates very well with my expected US Dollar strengh during September. All commodities may renew local minimums.
Target for this movement should be around 17 Dollars per ounce
There it looks like a flat structure broken downside of the rectangular box..looks like running into iii? wave which shall complete 18.55$-161.8% which is the ideal measurement of iii-wave..post that there will bounce in iv? wave not to overlap i-wave (otherwise -we breach one of the cardinal rules of elliott wave-iv -waves cannot enter territory of the i-wave &...