Thursday, April 20, 2017 2:23:59 PM
A look at the Silver chart
my kooky geometric arcs and Fibonacci targets,and Elliott wave counting....
the chart looks like the Cartel is making a Capping at this 18.50/18.65 area. I saw 19 as a capping resistance as well. but this general area, a capping zone, and a set up to retrace the last pullback, to retest 17. The topping zone above this 18.50 is only 20.00-20.50- 21.00 area, so its not looking too exciting for silver.IF the Cartel plans to keep capping it. I don't buy into all the hype promo of how silver is ready to go soaring. The Power of the government has kept the precious metals UNDER CONTROL. and this chart has that same controlled look to it. buying silver in the 16.80-1750 area looks like the zone to buy...the current 18.50 area looks like resistance that could fail right now and begin the next pullback to target 17.
BUT this is supposed to be a trend change right?? then we need to see a Big Rally now.or soon. Any real rally now would supposed to be a Big soaring rally, as going by the Elliott wave counting. (this next rally wave would be "subwave 3 of 5 of 3 of 5 of Wave 3),it should be a huge rally,like a surge from here to at least 20-21 area,and only pausing there to continue higher. But that does not look like its about to happen right now.
my kooky geometric arcs and Fibonacci targets,and Elliott wave counting....
the chart looks like the Cartel is making a Capping at this 18.50/18.65 area. I saw 19 as a capping resistance as well. but this general area, a capping zone, and a set up to retrace the last pullback, to retest 17. The topping zone above this 18.50 is only 20.00-20.50- 21.00 area, so its not looking too exciting for silver.IF the Cartel plans to keep capping it. I don't buy into all the hype promo of how silver is ready to go soaring. The Power of the government has kept the precious metals UNDER CONTROL. and this chart has that same controlled look to it. buying silver in the 16.80-1750 area looks like the zone to buy...the current 18.50 area looks like resistance that could fail right now and begin the next pullback to target 17.
BUT this is supposed to be a trend change right?? then we need to see a Big Rally now.or soon. Any real rally now would supposed to be a Big soaring rally, as going by the Elliott wave counting. (this next rally wave would be "subwave 3 of 5 of 3 of 5 of Wave 3),it should be a huge rally,like a surge from here to at least 20-21 area,and only pausing there to continue higher. But that does not look like its about to happen right now.
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