Quite a bit of news today that could move the PM markets out of last month's base building horizontal channel, direction being dependent on the news content. If it goes down, it should be met with buying in the very short term as holders are getting stronger and new buyers will be submitting bids with the overall condition of the economy, and shaky general market conditions. The last comment probably holds true if price stays in the channel on the news. If it breaks up, we might be on the threshold of a major move up that I believe is long over due.
Agree on wave count, but I think W2 will / should retrace to 21.63 (21.63 most likely) or 21.84 first. I think we head down there in the morning. The 22.01 is the 50% retrace (actual 21.99), which is technically enough for us to continue on up, but the 50% retrace is usually (almost exclusively) a W4 or ABC retrace.
Silver Ref : 19.62 , last 19.62 . . Flat , but 5 , 15 and 30 min RSI have moved above 50% the last hour or so. I'm content with my 22.00 calls ,even if price goes down to 21.74, / 21.80 it should recover quickly , as always ,the morning will tell. This afternoons price overlapped the W1 price at 22.23 ? But it often seems to do so