SILVER, very bullish outlook

21 ส.ค.

Hello everyone,
I like to provide you a detailed elliot wave analysis on silver. In my opinion we are in the middle of a higher degree fifth wave. The elliot wave rules I use:

Standard:
- Wave 3 has to be the longest
- Wave 4 can not overlap with wave 1

Advanced:
- Target levels are 1,5 to 1,618 (wave 3) and 2.272 to 2.618 (wave 5)
- Wave 3 needs to show a change of character to wave 1 (usually steeper)

25 ส.ค.

บันทึกช่วยจำ

Wave 4 came in lower as expected, but the rebound was quiet strong, so I expect higher prices this week.

25 ส.ค.

บันทึกช่วยจำ

Next target 30,555

1 ก.ย.

บันทึกช่วยจำ

It seems like sub wave 5 could have been finished already and didn't reach minimum expectations. It's unusual, but technically possible.

The new invalidation point is 28 dollar and the target still above 30 dollar.

7 ก.ย.

บันทึกช่วยจำ

The only way to interpret the actual price action is, that we completed wave one with a truncated 5th wave and pulled back in wave two.

For this scenario the price should not break the 27 dollar level, otherwise I would expect a deeper pullback towards 26 dollar.

13 ก.ย.

บันทึกช่วยจำ

Finally the expected move materialized. A strong weekly close opens the door for higher prices next week.