Hello Traders,
by making a new low at $16.60 at Aug `15 Silver move sideways for some hours and advance that to a new intraday high at $16.975. Here it touches a falling trendline which connect the high at $17.24 and $17.555 and last the Intraday high at $ 16.975! RSI is still in bearish zone (below 60) and still declining and the intraday high touches the .618 RT of the decline from $17.24!
As long Silver is trading below the .618 Rt and the more important the $17.095 (.786 RT) I favor the idea for another decline in Wave c of 2 with targets at $16.19 - $15.945!
If Silver is able to advance above $17.095 it favor the chance that Wave 2 is in place and a new advance of multiweek has started!
Have great evening
rubennase
Questions and Comments are welcome!
Note!---> This Analysis can be wrong. It is just in my view the one with the most probabiltity with the Data which are available to me and by my interpretation the EW Theory. If you trade this it is done by your own risk and decision! Keep that in Mind!!!!
by making a new low at $16.60 at Aug `15 Silver move sideways for some hours and advance that to a new intraday high at $16.975. Here it touches a falling trendline which connect the high at $17.24 and $17.555 and last the Intraday high at $ 16.975! RSI is still in bearish zone (below 60) and still declining and the intraday high touches the .618 RT of the decline from $17.24!
As long Silver is trading below the .618 Rt and the more important the $17.095 (.786 RT) I favor the idea for another decline in Wave c of 2 with targets at $16.19 - $15.945!
If Silver is able to advance above $17.095 it favor the chance that Wave 2 is in place and a new advance of multiweek has started!
Have great evening
rubennase
Questions and Comments are welcome!
Note!---> This Analysis can be wrong. It is just in my view the one with the most probabiltity with the Data which are available to me and by my interpretation the EW Theory. If you trade this it is done by your own risk and decision! Keep that in Mind!!!!