Trading Idea : Silver (Update 1)

Dear All,
                 In last post on Silver ..... we told we are long term bearish and Short to very short term bullish .....price action seems to "agree" with our analysis and has rewarded some good gains on upside .

We have done more than 50% ret of the fall ..........now let analyze how probable price action take place.

Long term  to Medium term View : Bearish target 53200---sub 45000 levels .


Short term / very Short term : Bearish target 59142----sub 58000 levels( Break of 61400 required)

in last post we analyze that we have came down in abc mode it is either wave 1 or wave A of Big C down ,
and will retrace up, that exactly what price action did .......we hit 61971 which is  more than 50% ret of entire fall .. so now either we have done complete ret in form of abc else we have completed A of abc ........in both case we should go down with min. tgt of 59150 if we trade below 61400.

Thanks & Regards

Abhay Mehrotra