The corrective phase from the highs of September to the lows of this month fits absolutely within the normal parameters. Action-reaction phase.
It seems that the corrective phase of the last months in the 'younger brother' of gold may have the days counted. Thus, we can see how the price is sticking the head above the short-term bearish guideline, the top of a bearish wedge (of bullish implications for the price). Bounce that occurs at the doors of the adjustment / recoil level of 61.8% of all previous rise, or what is the same the falls fit absolutely within the normal parameters. However, mentioned that there is a support of greater relevance at $ 16.30, the February highs that in turn coincide with the 61.8% decline in Fibonacci. Let's say that as long as the support of $ 16.30 is not pierced, it is normal that from here the price tries to restructure upwards in search of the resistance it presents in the annual maximums. Above, on the resistance side, the next control zone is found at $ 18.20-18.30.
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