Category Archives: Silver – Daily

Silver

Correcting Down :

Today’s sharp selloff (4.39%) should be a final stage of correcting down in Minor wave 4.

Silver will soon resume the Intermediate trend to the upside. Its Minor-degree fifth wave, when it starts, will be a significant rally to new highs.

Silver - Daily

Silver

There is no change in the bullish outlook, so far. Silver should have concluded its Medium-term bear trend with an ending diagonal, which started in January 2015 and denoted by its Minor degree subdivisions.

The extreme point of the bullish diagonal at 13.62 (Dec. 14), could be respected as a significant low.

Silver - Daily

Silver

Searching for a significant extreme low :

The ending diagonal as Minor-degree wave 5, indicating the end of Silver’s medium-term downtrend, should be in its final stage (likely within its Minute-degree wave c(circle)).

The extreme point of bullish ending diagonal might be around 13.49, likely in late December.

Silver - Daily

Silver

Silver’s medium-term bear trend in its final stage :

Two straight days selloff, engulfing over 61.8 percent of mount in wave b(circle), would suggest the final decline in wave c(circle) is underway.

Note: With respect to the ending diagonal pattern, the wave structure of the current decline since late November should be traced out in a three-wave entirely.

The extreme point of bullish ending diagonal might be around 13.49, likely in late December.

Silver - Daily