{"id":147121,"date":"2019-05-06T10:20:40","date_gmt":"2019-05-06T14:20:40","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=147121"},"modified":"2019-05-06T08:40:59","modified_gmt":"2019-05-06T12:40:59","slug":"silver-sets-up-a-long-term-wave-b-bottom","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/05\/silver-sets-up-a-long-term-wave-b-bottom\/","title":{"rendered":"Silver Sets Up A Long-Term Wave B Bottom"},"content":{"rendered":"
May 6, 2019<\/div>
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By TheTechnicalTraders.com<\/u><\/a><\/strong><\/p>\n

Precious Metals traders have been hanging on every turn in the markets over the past 2+ years.\u00a0 The upside price move in early 2016 setup a very strong expectation that further upside price moves were about to result in an upside price explosion in metals.\u00a0 Remember, 2016 was a very big US Presidential election year.\u00a0 2020, being the next big US Presidential election year, is only about 7 months away and the rancor has already started in the news cycles.<\/p>\n

Our proprietary Fibonacci price modeling system is suggesting that Silver has set up an ABC bottom in Oct\/Nov 2018 and has already initiated an A\/B upside price leg that should result in a C or C\/D\/E price advance over the next few months.\u00a0 Our Fibonacci price modeling system is suggesting an upside price target of $22 per ounce for this move, which breaks the previous July 2016 highs of $21.22.\u00a0 We believe the ultimate upside target of this next bullish move is bear $28 to $29 based on longer-term Fibonacci price modeling.<\/p>\n

Initially, this upside move must break the $16.30 level, which represents immediate resistance.\u00a0 Then, it must push above the $18.66 level, which represents secondary resistance.\u00a0 Once Silver passes the $18.66 level, the last leg higher will attempt to break the $21.22 level and push up into new recent highs (higher than the 2016 highs).<\/p>\n

We believe the current US Presidential election cycle will be full of twists and turns \u2013 most of which will be very public and explosive.\u00a0 We believe this election cycle will create a certain level of fear in the markets that are above and beyond what we have seen over the past 15+ months.\u00a0 In a method that is very similar to what happened in 2016, the public will become entrenched in the election cycle process and the global economy may suffer slightly as the political shenanigans continue to play out on our TVs, newspapers and web browsers.<\/p>\n

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The October\/December 2018 lows were, most likely, the lowest price levels we will see going forward.\u00a0 Additionally, the current price levels, below $15 per ounce, may be the last time we\u2019ll have the opportunity to see prices this low in a number of years.\u00a0 Our price modeling is suggesting that Silver and Gold will begin a Momentum Base Rally from these lows that may last many years.<\/p>

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<\/a>\r\n\t Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p>

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If you want to know when we get long Silver next be sure to join our Wealth Trading Newsletter<\/a><\/strong> and get our trading signals. In fact, we are giving away and shipping FREE Silver rounds for select membership levels for the next few days.<\/p>\n

Chris Vermeulen<\/p>\n

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 <\/p>\n","protected":false},"excerpt":{"rendered":"

By TheTechnicalTraders.com Precious Metals traders have been hanging on every turn in the markets over the past 2+ years.\u00a0 The upside price move in early 2016 setup a very strong expectation that further upside price moves were about to result in an upside price explosion in metals.\u00a0 Remember, 2016 was a very big US Presidential […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-147121","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/147121","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=147121"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/147121\/revisions"}],"predecessor-version":[{"id":147122,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/147121\/revisions\/147122"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=147121"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=147121"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=147121"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}