slipping pic

Below looks at a chart of Silver prices over the past 8-years. After declining sharply, Silver hit its 38% Fibonacci retracement level twice at (1). After failing to break above Fibonacci retracement resistance, selling pressure picked up and Silver fell hard.

silver testing 23 fib level slip risk july 25


Silver is now testing its 23% Fibonacci retracement level and falling resistance at (2), inside of a short-term rising wedge pattern.

Silver is testing short-term rising support at (3), just under Fibonacci 23% level.

It could be important for Silver to NOT slip below support at (3), just below a key retracement level at (2).


How The Recent Decline In Stocks Looks "Eerily" Like Major Bear Markets Of The Past