Silver seems to have completed its wave 4 correction, Wave C (circle) being slightly greater than Wave A (circle). This means Silver should rally to new highs in the near future.
Hi, would it not retrace to 0.618 levels from the top in aug & bottom in march?
SolomonsView
⋅
@pkinvestor, Thanks for the question.
Wave 4 retracements are generally 38-50 % Wave 2 is generally steeper in the range of 50-68%. Since this is Wave 4, the general guideline ( not a rule) is met. More importantly, C = A is a good enough criteria to consider, add to that Wave C shows a completed 5 wave form. This is good enough to take profits of the table for me
Hope this helps