On the short term, it appears that SLV has completed wave 4 and is now starting on Wave 5. With the Fed announcing what amounts to QE4, precious metals rallied higher however there is still overhead resistance. While lower prices to the lower channel line would be temporarily disappointing, it would be a great opportunity to "load up" on cheap calls. Following this channel or a 20 week moving average, one would expect that SLV be holding a minimum level of 18 by Jan 2020 option expiration and much higher prices throughout the next year. Be prepared to buy if another shakeout occurs. My gut tells me though that the move starting now will catapult SLV to above 20, quite possibly to 25 before retreating into a lengthily consolidation period.
pathway to 25