We talked about silver already back on August 13, where we mentioned and highlighted a higher degree correction within uptrend. Since then, we got a nice impulsive five-wave rally. CLICK HERE
Every day we are tracking and updating intraday charts for our members and we want to share an interesting flashback educational article on how we spotted a bullish setup formation. Well, the main thing why we are bullish on silver is definitely nice and clean five-wave impulse in August that was followed by a deeper corrective setback at the beginning of September.
On Monday September 02 2024, we have been warning our members about a complex W-X-Y corrective setback that can touch the golden 61,8% Fibo. retracement and 28.00 support area, from where we would expect a continuation higher.
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As you can see today on September 05, silver bounced perfectly as expected after we spotted a complex W-X-Y corrective setback. With current bearish USdollar and bullish 10Y US Notes, we can easily expect more gains, especially if breaks above 29.10 bullish confirmation level, just watch out on short- term pullbacks.
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