12 Aug 2020 ● 05:45 AM
A very sharp drop in Silver, however I did note that we are overbought, and there was no good view to put after the last move up as we were in the final moves. Now wave 3 could be complete and wave 4 down is developing. However wave 4 is already back to near the previous wave iv support and the 20dma near 23.86. So the downside appears limited but wave 4 may not be over. Wave 4 can develop into a multi week triangle formation with a consolidation between 24-30 in a contracting range.