Silver Could Go Lower

There is a corner on silver, but if you study the charts, silver cannot avoid to go lower on the very short term. On this chart of silver since 1994, I drew the resistance that blocked every upper spike before 2006. The resistance had been broken in January 2006. There had been a pull-back 5 months later and an other pull-back during 2008 systemic krach. Silver is about to test this resistance one more time. For years, the Fibonacci fans hava had a very important role in the trading of silver. Each time that a fan had been broken upwards, thera had been a pull-back on the fan. Sometimes, you slide downwards along the fan for months, sometimes a quick pull-back is enough. On this chart, you can see that the last fan had been broken upwards in January 2018, followed by a pull-back in February. But since April, as silver prices are going down, we are sliding downwards along that fan. We are about to make a new pull-back at the end...

from GoldBroker.com https://www.goldbroker.com/news/silver-could-go-lower-1390