Silver to retest former top of 21.13
Updated
This is an updated map as we saw silver dropped into the abyss below the range.
Overall structure remained unchanged as it is still a flat correction although the right valley was established low than the left one.
The market is consolidationg within wave B of (Y) and it can dip between 14.23 and 13.24 into the blue box of Fibonacci retracement area.
After completion the upside move would resume to tag the former top of 21.13.
The wave C then should unfold at least 1.618x of wave A within (Y).
The silver was the game changer as previously I thought gold completed upside and should reverse.
Overall structure remained unchanged as it is still a flat correction although the right valley was established low than the left one.
The market is consolidationg within wave B of (Y) and it can dip between 14.23 and 13.24 into the blue box of Fibonacci retracement area.
After completion the upside move would resume to tag the former top of 21.13.
The wave C then should unfold at least 1.618x of wave A within (Y).
The silver was the game changer as previously I thought gold completed upside and should reverse.
Note
Update 4hOption 1 - triangle broke up
Option 2 - double three WXY correction => one more down then
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.