Thu, Jun 08, 2023 @ 18:15 GMT
HomeContributorsTechnical AnalysisSilver's Elliott Wave: Buckle Up for a Bullish Ride

Silver’s Elliott Wave: Buckle Up for a Bullish Ride

Silver has turned lower at start of the year but drop from the high can be counted as a w-x-y correction that found support at 19.88. Ideally, that was wave II on a daily chart where price is currently breaking the trendline resistance so ita appears that uptrend resumption is here. In fact price action on 4h chart looks very bullish with higher highs and higher swing low formations. It’s a strong recovery that looks impulsive, and it’s already breaking 24.65 swings high so more upside can be seen after next retracement. Ideally, it will be wave four back to trendline support.

Elliott Wave Financial Service
Elliott Wave Financial Service
Trading forex, futures or futures options carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could lose some or all of your initial investment; therefore you should not invest money that you cannot afford to lose. Our website and the information provided here should not be relied upon as a substitute for extensive independent research before making your investment decisions.

Featured Analysis

Learn Forex Trading