Silver Parabola’s & Consolidations

Please have a look at the next charts, that show us what happened after a silver Parabola burst.

Chart created with Prorealtime Charting Software

Chart created with Prorealtime Charting Software

Chart created with Prorealtime Charting Software

Chart created with Prorealtime Charting Software

The following chart is an updated version of  THIS ARTICLE.

We took the 1993 low of $3.50 as the 0% Fibonacci level and then drew several Fibonacci Retracement levels, whereby the 38.20% levels coincided with the consolidation levels. We can see that after the 3 previous peaks, price always  retreated at least to the 50% level. The current correction was halted at the 61.80% level.

Chart created with Prorealtime Charting Software

As the charts above show us, when a parabola bursts, it takes time – a lot of time – before the next leg up begins.
Will this time be any different, or are silver prices headed for more correction?

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