SILVER heads up into $ 33: Golden Sister of our Bouncer and TOP?
Updated
Commodities have been in a strong uptrend.
Silver is approaching a MAJOR fib at $32.96.
a "Golden" Ratio and sister of our bouncer.
Here is a Single-Pane chart for easier copying:
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Silver is approaching a MAJOR fib at $32.96.
a "Golden" Ratio and sister of our bouncer.
Here is a Single-Pane chart for easier copying:
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Note
PING
from "Give me a ping Vasilly, one Ping only"
So we are at the big picture resistance
If we get a decent pullback, we will start fib'ing it.
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Trade closed: target reached
BOOM
Caught that top PEERFECTLY,.
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Hourly View:
Dropped PERECTLY to blue sisteer fib below.
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Zoom in (m15) and including our red strip fib for the drop
The 4.236 at $31.17 was first guess for target of dip.
Now we are bck to that fib, for a possible lower high.
$31.17 is now the KEY: rejection could give lower lows.
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Trade active
BOOM and BOOM
PINGs rang out and gave us perfect entries.
Short from the posted Golden Fib for 7.5% gains.
Long from the sister Fib below at 12.83% so far.
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Zoom in (m21) and adding fibs to the bounce:
Gives a first guess target of $34.46 and TP.
And we should have good support $32.90-32.96.
Scalpers SL below 33.50, holders below 32.90
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Trade active
Followup to last Snapshot above:
Another leg up, after testing our "Salper stop loss"
Then broke thru our next target, 4.236 at $34.46
And a nice RETEST of 34.46 which can now be SL.
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BIg picture:
Need to flip Golden Covid fib at 34.54 into support.
Next major target and take profit will be 37.15 .
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