Waiting For Entry in SILVER

The corrective wave is in effect right now in silver and gold. What looks to be forming is also a Cup and Handle Formation with the handle being the corrective wave. We are looking for entry at the 0.5% and 0.618% Fibo levels which is also where a short term trend line sits.

In a cup and handle formation, if the price breaks top of the Cup, then the target is equivalent to the depth of the Cup itself (cream square) which in this case matches with a long term support and resistance level at the $18-$18.5 Level

Good Luck