Shark printed at 241% extension, now fighting back at 224% also the 50% pullback.
For those who are not inside this one, wait for structure breakout correction before jump in.
AB=CD will be printed above the 38%, and there, one opportunity to close half position size and to move stops to break...
Silver’s retreat from the August 8 high of $20.779/Oz to today’s low of $18.746/Oz has left the precious metal oversold on the intraday charts – as per hourly and 4-hr RSI.
Furthermore, the 50-DMA at $19.32 is still rising, which suggests the selling is overdone and prices could correct from here.
A corrective rally to $19.367/Oz (23.6% of Dec low to May high)...