Wednesday, December 11, 2013

Silver technical chart

Hi friends,
                  Looking at short term chart of silver its interesting.
 We had a leading diagonal 1 complex 2 followed by simple correction in 4th to finish a
impulse .Then we has a complex time consuming abc .
The abc correction retraced almost 85% of total rise at 18.88$.
I expect a rally towards 21.55$ minimum ir the trend line resistance,After which a small
retracement can happen,Overall i think a rally towards 25$ has started with in between small hiccups.The following chart shows my Elliott count.
This count stands wrong if silver drops below 18.88 $.Lets see how silver moves in coming days.



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