Silver Intraday Update! Time For A correction?

From the early August dip, silver has recovered nicely and now has soared to another higher high. This is starting to look like a mini bull trap with a potential finishing 5th wave.  I shifted the degree level by one degree, so we get to start the same degree over again. 

We could just see a very short correction before silver charges up again, but that could be wishful thinking at this time. Gold has made the same basic move, so for this short period of time, gold and silver are in sync. They must have searched for a better drummer that they can both march to.  

Any move to the $16 price level would not surprise me, but it will not happen overnight.I better not say “overnight” too many times, as then the odds increase that it will crash in a flash crash. With algorithms running amok you never know what will happen, so it is always best to keep our options open.

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