SLV 21.18 Target

2 lip 2014

The daily SLV sold off in a nice 5 wave pattern down, reaching the MTPredictor minimum wave 5 target. A red high volume VSA spike came in at the low in wave 5. When this is followed by a blue buyers candle it is an indication that professionals are stepping in and buying. If, in fact, professionals are buying, then the move up should not be a small one. A DP buy signal was given at this level to take advantage of this and the tendency is that it will correct back , at a minimum, to the wave 4 Decision Point. If the wave 4 DP holds as resistance, then the tendency is that the trend that was in place prior should continue. If, however, the wave 4 DP is exceeded, the tendency is that the whole 5 wave pattern down will be erased to the upside with the target being a DP off of the start of the wave 1. That puts the current target for this continuation move up to 21.18.