Category Archives: 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

Silver

The medium-term bear trend in its very late stages :

After an impulsive decline in Minute-degree wave a(circle), Silver will soon mount on the same degree wave b(circle), which will result in a final decline in wave c(circle).

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.

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

Silver - Daily

Silver

Ending Diagonal :

Silver continued its impulsive decline to today’s intraday-low, which is very close to the August 26 low at 13.93.

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, which its Minute-degree wave a(circle) could be completed now, and the following same-degree waves b(circle) up, then c(circle) down would lie ahead.

The extreme point of bullish ending diagonal might be around 13.46, likely in late December.

Silver - Daily

Silver

Ending Diagonal :

Silver continued its decline that led to today’s intraday low at 14.15.

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, which will draw price below the August 26 low.

The extreme point of the bullish ending diagonal might be around 13.46, in late December.

Silver - Daily

Silver

Trend Reversal :

After the bullish ending diagonal in Intermediate degree, unfolding five overlapping waves to the upside, as a leading diagonal in lesser degree, indicates the Silver’s medium-term trend may have turned up.

According to the Elliott Wave Principle, “A leading diagonal in the wave one position is typically followed by a deep retracement.” Hence, correcting through at least the 50 percent of leading diagonal (wave 1) is expected.

Based upon these bullish structures it’s anticipated the August low at 13.93, as a significant extreme, remains intact in medium term.

Silver - Daily