22 Sep 2020 ● 07:58 AM
Silver broke down from the triangle and that changes a lot. One of the alternates is to complete the 5th wave as truncated and consider a larger retracement. 38.2% is at 23.20 and near the wave 4 low. This would be the ideal scenario for a normal a-b-c correction to end. But till wave c is not over it is not over. RSI is not oversold. So if a deeper cut follows 50% is at 20.96. 61.8% at 18.78. Need to wait and see where wave c completes now.