10 Jul 2019 ● 04:48 AM
Prices have been falling since 2011, and did not hold the 2015 lows as did Gold. So it has backed off from the previous metals rally. The entire fall faces resistance from the falling trendline and a parallel channel to the point Y goes way lower. The recent rallies are all corrective so I am marking it as wave 2 of C, with the top line at 870 as resistance. The question is will wave Z be an extended one as well and go to the lower channel line then, the lower line is at 540 and falling as time goes. Wave C has to complete 5 waves once it breaks below the wave 1 low of 751.