Tuesday, July 18, 2017 3:59:06 PM
at 3 dollars but also just above it 3.10-3.20 looks like strong resistance zone. this pattern looks like its still in a bottoming formation. still ongoing. successfully held the 2.70 base.....So far.... but resistance overhead starting at 3 dollars isn't tested yet. I expect big resistance there,and more time dragging out below 3 dollars. The topping shoulder zone looks like 3.50-3.60 area,maybe 3.80 would be extreme.
targets that look attractive to buy, in my view, are below the 2.70 "base" down at 2.45-2.35 area, where the shoulder zone is. I don't trust the 2.70 'base' to hold. But of course,I could become wrong about that.
In Elliott Wave pattern, this zig zag from 2.70 to 3.00 and back, looks like a "Wave 4" setting up for the "Wave 5" downwave, to test those targets below 2.70,as the 'completed pullback' wave.
from the technical bottom at 40 cents/76 cents/1.00/1.50 to the top at 4.50/4.10....making a major pullback, as "grand wave 2"of 5. IF this does become a trend changing, bullish wave pattern, the next upwave ,that could begin at the 2.40 shoulder zone,(or 2.70 here) would be the Largest rally wave (Wave 3) if it happens. and that might start targeting 5.00-6.00 up to 8 dollars if the pattern develops in a very bullish way for silver, if spot silver breaks free of the manipulation and something triggers a giant rally in spot silver and gold, like a market implosion, or war or some trigger. then SVM could start that big wave 3 rally and start targeting the 8 dollar target for SVM....but otherwise, I think we will be stuck in some pattern that might be a range pattern, from 2.50 to 5 dollars, or 2.25 to 4.50, something like that. 2.20 to 4.40...with 3.30 in the middle. You can see the resistance stations at the 3.30 target area.
so the "buy zone" is down at 2.45-2.25 area.
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