SLV - Fib Target Projections

Reviewing Fib ratios shows expectations for coming moves. SLV retraced it's last up move right to the 50% level. Having found support here, one would expect it to rally to the -.23 fib at 17.63. If SLV corrects 50% from there, it can be expected to fall to 16.97. Support there would indicate another move to the -.23 fib at 17.94. Beyond these targets, there is nothing constraining price to stop at these levels. Price can continue beyond depending on strength/weakness. With the added interest rising up in the precious metals sector, the likelihood of prices reacting to Fibonacci levels increases as many computer algos use them for action points.