Category Archives: Silver – Weekly

Silver

Trend Reversal :

As denoted by the labels on the weekly chart below, Silver should have concluded its five-wave sequence ((A)) which started on April 2011. Subsequently a corrective sequence in medium term, as Primary-degree wave ((B)), could have begun its trend to the upside.

Silver recorded the mid-December low at 13.62 as a significant extreme. The price is challenging the upper channel line, and closing above that would indicate the trend change to bull in medium term.

Silver - Weekly

Silver

Searching for an extreme low :

As shown on this weekly chart, Silver is searching for a significant extreme, as Primary-degree wave A(circle)’s low, around the mid line of its medium-term channel.

The Silver’s medium-term bear trend is approaching its conclusion, since an ending diagonal always terminates the wave structure at a larger degree and a reversal tends to be swift and sharp, retracing back to the origin of the diagonal pattern.

Silver - Weekly

Silver

This week was the first strong rally in Silver in the last three months, that would indicate that Minor wave B has completed and countertrend rally in Minor wave C begun its way up.

The outlook now is bullish, in anticipation of the rally of Minor degree, over the coming weeks.

Silver - Weekly

Silver

As shown in this weekly frame, the first strong rally week in Silver indicates that Minor wave B has completed and countertrend rally in Minor wave C likely begun its way up.

The outlook now is bullish, in anticipation of the rally of Minor degree, over the coming weeks.

Silver - Weekly

Silver

As shown on this weekly frame, Silver has still retained its potential for a triangle or flat developing as Intermediate wave (4), which is prior to start of decline in Intermediate wave (5).

Note : The leading diagonals, as a directional concept, could infer to extend the following waves of a sequence, in direction of the leading diagonal.

Silver - Weekly

Silver

Today’s Silver decline indicates that ongoing correction from the December low at $14.15, will develop Intermediate wave (4) in larger scale and take more time before it terminates likely in 2016.

Note : Currently, the mid line of downtrend channel sustains the price’s stance.

Silver - Weekly

Silver

Intermediate Fourth Wave Underway :

On this weekly frame of the Silver, the wave counts explain how the Silver may work sideways and develop the Intermediate wave (4) as a triangle, flat, or complex “three”, over the coming months.

Based upon this interpretation, the outlook in medium-term remains sideways, as long as the price consolidate on the 16.99 structural resistance. And ultimately, the following decline of Silver in the Intermediate wave (5) will terminate the Primary wave A(circle), probably early in 2016.

Silver - Weekly

Silver

The bearish outlook :

On the primary degree wave A in the late stages, Silver may have started to fall in a minor degree third wave of an extending wave (5).

The outlook remains bearish against the 18.50, towards the 6.41 where wave 3 equals 1.618 times the length of wave 1.

The ultimate target could not exceed the level of 4.35 where wave (5) = wave (3). Because wave (3) < wave (1) and wave (3) could never be the shortest wave.

Silver - Weekly

Silver

Will decline of Silver be extended to lower levels in the coming weeks?

In a bearish alternate view on the weekly chart frame, bearish strength of the leading diagonal formation as wave (1), would infer to extend the following waves on the down trend persistently. Based on the bearish concept, fifth wave of the five-wave sequence A(circled), may be extended to lower levels.

How far down can the ongoing fifth-wave be expected to extend?

According to the bearish alternative, A common fibo-expansion target for the extended wave (5) of A(circled), could be around the 7.00 level, where would be established the ratio of 0.618 with the wave (1).

Silver - Weekly

Silver

Will Silver’ongoing-decline be extended to lower levels in the coming weeks?

In a bearish alternate-view on the weekly chart frame, the bearish strength of leading diagonal concept as wave (1), would infer to extend the following waves on the down trend persistently. And hence, the fifth wave of the five-wave sequence A(circled), may be extended to lower levels.

Based on the bearish view, the expected fibonacci target for the wave (5) of A(circled), could be around the 7.00 level, where be established the ratio of 0.618 with the wave (1).

Silver - Weekly