#Silver #XAGUSD may have completed a long sideways correction

TVC:SILVER   CFDs on Silver (US$ / OZ)
Silver seems to have completed a rather long sideways correction to 21.42 levels. A labelled chart is shown. Yesterday's dip was a 5th wave downside thrust from a 4th wave triangle and found support at the earlier low in Sep '20

If yesterdays low holds, we are headed higher. The Risk to Reward on this trade is worth a bet on. Look for new multi year highs if 21. 40 level holds

The current count has a very small wave 2 (circle) and a large wave 4 (circle) - This is not ideal but we'll go with this for now. The alternate is that the current sideways move is Wave 2 and the Aug '20 high was wave 1 - this makes it a extremely bullish count.

Michael @ SolomonsView

Twitter - @SolomonsView

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.