SILVER - Long on end of correction structure

1 mag 2017

XAGUSD seems to have just completed a corrective structure. If this is the case, it is a good idea to go long right about now, with a first target in the 19.6 area. Upward movement should be of an impulsive kind. However, should the price of this commodity against the dollar form a flag, there is a chance that XAGUSD might retest the 2016 low in the $ 13.6 area.
In a long term perspective, we are definitely long on Silver, also considering that the mining AISC costs of the commodity range between $8 and $12.
Trade with care.
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2 mag 2017

Nota

One more small leg down might be possible, looking at the 60 min chart, although not necessarily.