Elliott Wave 5.0 "Reboot"

Friday, February 12, 2016

Silver Intraday Review: Is The Party Over?

Yesterday, was a great day for pages being read, as the pages being read hit 958. This is one of the highest readings in a very long time. Thanks for your support.  

Just recently it was announced that Canada has also sold more of its gold reserves and has very little left.  What else is new, and if it were any other country that would crash the price of gold. 

Silver is lagging far behind gold, and shows an even more pronounced choppy accent. It has all the signs of a bearish rally, not a pure impulse.   As much as I hate to say it, silver should end up retracing its entire bullish move and a record new bear market low should get established as well. 

We will have to wait a  see if another correction will show up as any correction will take a bit longer than a few days.  This move can also be part of an expanded move in which silver will also retrace by 100% or more.   Either way it is a very choppy "C" wave type bull market.