Adam Smith Associates - Silver making a bottom has been slow



The process of Silver making a bottom has been slow. A year ago too we saw the same. Even as it makes higher bottoms the hourly chart shows corrective moves that are all part of a possible running pattern. A running pattern is a consolidation that is slightly rising in nature. Today morning we are at the lower end of the running pattern at 16.66$. So this support holding it should provide the spring board to start wave 3 up to 17.25. Below 16.66 we would see a deeper retracement in the metal.


Adam Smith Associates Pvt Ltd provide trade & commodity finance to its domestic and international clients. The views expressed in the articles are of the author - Rohit Srivastava a leading Technical Analyst with over 18 years of experience


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