Silver following the script part IV
I would encourage anyone new to this blog to go thru the following past blogs to get an update on where we are ….the link is here:
the big question “is the high in/around 50 a wave III or a wave V?” I REALLY like it being a wave III because the current correction in form/balance is SO NICE. If that is the case, we are in the midst of the 5th wave of C that will take us into the 14 area for a really really powerful BUY. I have shown the 11 area based on the length of the corrective move from the old high in the 1980’s.
we have a beautiful zig-zag (3-3-5) correction working …. in the case of the 14 dollar level we have a=c and w/in the context of the C wave we have wave 1 and wave 5 being equal and then they land right on the .786 from the low in 2002. that is the PATTERN we have been following and tracing …
yes I know that silver is becoming overtly bearish from a sentiment perspective and w/ a very strong dollar forecasted is another 20% percent correction into the March 14′ time frame to out of the question?