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Silver

Unlike gold, Silver is seeing a slow and steady advance with daily ups and down. However having broken out of the falling channel the objective of the breakout is near 19.50$. This is based on measuring the size of the channel and projecting it above the breakout point. Simple. Note the RSI on the top half of the chart is just below the 70 mark that is usually considered overbought. This is an interesting point for silver because it maybe on the verge of a strong take off on the way up. When that happens you will see bigger candles and overbought readings that will not be followed by a correction but even more gains. The third wave should eventually become fascinating.

silver-170217

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