Silver has been regaining strong momentum I attempted to label the waves as best as I could Estimating we are in wave 3 of 5.
On the Daily chart: Momentum pushing above Keltner Channels 10/20 EMA cross Positive PSAR RSI has crossed above 60
Using Fibonacci extension tool on wave 5 Pulling from Dec 7th as the start of wave 1 to $18.80 end of wave 1 and then pulled to $17.45 as end of wave 2 I am estimating a target at $21.20 at the 161.8% extension
Not shown but I might try to later but I am experimenting with Fib Time Extensions and Fib Channels giving me a date target of April 15th
From $21.20 I think wave 4 will retrace 38.2% to $19.60 in a ranging behavior
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Maybe we make a flat here?
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Really hope this holds
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Many incorrect idea's If we fall below $16.18 I am selling all my silver Current thoughts. Maybe we are still in the correction Possible Zig-Zag / x / Flat or Triangle? Unsure until we time progresses