ðĨSilver's time for falls.
ðĨGold has already been mentioned so now it's time for silver.
ðĨLink to posts about gold:
ðĨIn my analysis of silver I used several tools to catch key price points.
ðĨAt the very beginning I marked out a downtrend channel, as we can see we are very close to the upper edge and knowing that there is no rule that the price always reaches every point with scalpel precision. This is the first indication that the price is expensive.
ðĨNext I measured the fibo grid of the whole downward wave and again I see that we are close to the important level of 0.382 of the whole wave.
ðĨI also measured the current upward impulse from the bottom using the fibo.
ðĨI also measured the range of the largest correction of this impulse to determine the 1:1 range level.
ðĨWith the help of these measurements I was able to determine two support zones.
1. the 0.236 cluster of the entire downward wave plus 0.382 of the entire upward wave.
2. the 0.618 level cluster of the current upward impulse and the 1:1 level.
ðĨLooking at where we are, the occurrence of a correction is highly likely. I have set a resistance zone given that it is a cluster of the 0.382 level and an important price point that has provided support in the past.
ðĨThe scenario I am playing out is the execution of a downward correction of the current upward momentum with a long term perspective of continued declines.
ðĨ*Please do not suggest the path I have drawn with the lines this is only a hypothetical scenario for further increases.
ðIf you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.ð
ðĨGold has already been mentioned so now it's time for silver.
ðĨLink to posts about gold:
ðĨIn my analysis of silver I used several tools to catch key price points.
ðĨAt the very beginning I marked out a downtrend channel, as we can see we are very close to the upper edge and knowing that there is no rule that the price always reaches every point with scalpel precision. This is the first indication that the price is expensive.
ðĨNext I measured the fibo grid of the whole downward wave and again I see that we are close to the important level of 0.382 of the whole wave.
ðĨI also measured the current upward impulse from the bottom using the fibo.
ðĨI also measured the range of the largest correction of this impulse to determine the 1:1 range level.
ðĨWith the help of these measurements I was able to determine two support zones.
1. the 0.236 cluster of the entire downward wave plus 0.382 of the entire upward wave.
2. the 0.618 level cluster of the current upward impulse and the 1:1 level.
ðĨLooking at where we are, the occurrence of a correction is highly likely. I have set a resistance zone given that it is a cluster of the 0.382 level and an important price point that has provided support in the past.
ðĨThe scenario I am playing out is the execution of a downward correction of the current upward momentum with a long term perspective of continued declines.
ðĨ*Please do not suggest the path I have drawn with the lines this is only a hypothetical scenario for further increases.
ðIf you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.ð
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ðē To keep up to date with all my activities I invite you to visit my Telegram ðē
ðē www.t.me/Investmatez ðē
ðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦ