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