I. Long term
If we look at a long term graph of the silver, we are reassured.
The objective of the head shoulders inverted is $11.5. There is a ancient summit in this sector which is $13. It is possible to fix the objective of the next big wave of increase between $11.5 and $13.
At present the silver meant testing its line of neck, what is completely normal with this figure. I remind to the beginner in technical analysis that the figure of the head, which is also called the figure of three buddhas for Japanese is one of the most reliable figures of the technical analysis.
This is only the objective of the next big wave of increase which will not be the last one.
II. Short term.
But the question that everybody pauses at the moment is to know when the correction is going to end in the short run in the silver. Because those who invest on the silver today understood for a long time that they make an investment there which arrives only only once in the life of an investor. Personally, I think that the mobile average in 150 days is going to serve as support. This zone of $6 also corresponds to a decline of 50 % ( Fibonacci) since the highest precede close to $8 and most low close to $8.
But it is more difficult to be precise in the short run that in the long run. The different pressures exercised on the silver, not corresponding to a natural market, deform the signals. But in the long run these signals cannot be modified and are very clearly, it is bull for a long time.
Dr Thomas Chaize