TheoDewet

TheoDewet

There are support levels on 17.727 & 17.840 with a good upward trend and a small recent retracement which leads me to believe that silver should peak around 18.550 breaking through the resistance barriers in the same fashion as the week prior... Share your opinion in the comments below...

TheoDewet

Due to BTC that keeps breaking the resistance barriers I believe that it has yet to reach its major deviation resistance barrier which might lie between $3850 - $ 4000. We see in August a possible Elliott 5 wave forming which could lead to a major regression in middle to late August to the areas of $3400 - $3600. Thus I would advise traders to put in medium term...

TheoDewet

We are seeing a strong support barrier forming at 1.295 as well as a 13=21 Elliott wave possibly forming. This resistance barrier was hit in July and bounced up to drop again in August. Buy: 1.290 to 1.295 Stop Loss: 1.279 Target 1: 1.305 Target 2: 1.310 Adviced Take Profit: 1.305