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SLV - Triangle Corrective WAVE

AMEX:SLV   iShares Silver Trust
My count has a bullish ABCDE Triangle Corrective Wave unfolding for SLV., and if confirmed it will likely continue "sideways" for a bit longer.

See chart for general price and wave predictions. Waiting for confirmation that Wave C is done.

Indicators looking like a turn up is in the cards but volume isn't confirming IMO. However I wonder how/if retail interest in physical silver may be skewing this metric.

If the C wave continues down a little then reverses - still bullish for SLV longer term and potentially a bullish ABC correction. If Wave C down breaks below $21.xx will revaluate bull case.

Note: $COPX has been turning up here as well. Bullish!

No active trades = Neutral

Not financial advice.
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