SLV update - Market Analysis for Mar 13th, 2020

Just another quite post about SLV.  With silvers break of the immediate support, it seems that the most reasonable perspective is that it may be trying to strike a nominally lower low here in its longer term c-wave off the 2011 highs.  And, this would be a wave 3 of that final move down.  Otherwise, we may simply see further consolidation before that happens.  But, for now, that seems to be the most reasonable perspective.  I will review over the weekend, and provide more insight.  Until then, I am staying away from silver, but may be looking to add to my silver relative positions in a big way.

SLV Monthly
SLV Monthly
Avi Gilburt is founder of ElliottWaveTrader.net.