Silver can break to 29.00 or lower [Video]

Gregor Horvat Wavetraders

Silver made sharp reversal down from 34.80 highs, when metal also broken through a lower trendline support of an ending diagonal which is an important indication for a top in place. As such, we are aware of much lower prices, maybe even back to the start of a diagonal at around 26/28 as drop from 4h time frame has an impulsive bearish structure into wave A/1. Well, after we recently noticed an A-B-C correction into wave B/2, we can now see it turning sharply down, so bears may now resume lower within wave C or 3 towards 28-26 area.

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Author

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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