#Silver made a 50/100 weekly MA bearish cross. This event is rare and it happened only 9 times in the last 42 years. After such events that always triggered multi-week/month corrections, silver suffered an average loss of 35%. Range: 8-72%. If the metal targets a 35% loss now, it would be heading towards $16.
This is pure event statistics – let’s discuss the other perspectives.
This Overview contains:
– analysis of monthly/weekly/daily charts from the candles and TA perspectives;
– long term Elliott Waves Forecast.
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