Silver Update, Monthly
-PA is currently within my buy zone from my previous post, We'll likely see PA hit the bottom of the bull flag (Green dotted lines) and consolidate for a bit. The target for the bull flag is $44, right around the 0.786 fib level which sits at $42. We'll likely see an impulse to these levels ($42-44) before a minor retracement as long as PA breaks out bullish of the bull flag.
-Long term I'm looking at a minimum of $72-108 based on fib levels. This stands even if we break down to $11-13.5.
-If we break down, i have buy levels set at the 0.618/0.786 fib levels as well as a 100% retrace (red lines/box).
-Overall Silver looks bullish on the monthly chart, impulsing after a breakout of the major 6 year long downtrend resistance (Red dashed line).
-Long term I'm looking at a minimum of $72-108 based on fib levels. This stands even if we break down to $11-13.5.
-If we break down, i have buy levels set at the 0.618/0.786 fib levels as well as a 100% retrace (red lines/box).
-Overall Silver looks bullish on the monthly chart, impulsing after a breakout of the major 6 year long downtrend resistance (Red dashed line).
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