Silver - Update 8/25/11

The previous sharp correction interpretation for wave {ii} blue died with a cross yesterday of 39.80. But this move has set up a potential running flat correction instead:

Running flats are typically very bullish structures, to confirm, silver needs to move quickly upward and reconquer 44 inside a few days time. Be warned that any choppy lazy moves that stay below the 10 EMA on a daily closing basis are potentially very bearish causing the lower-channel line to break could ignite another cascade.


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