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

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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