Elliott Wave Analysis: SILVER Is Finishing Expanded Flat

26 окт. 2021 г.

Hello traders and investors!

Today we will talk about silver, its price action from technical point of view and wave structure from Elliott Wave perspective.

Well, we are tracking two different interpretations on silver, but what is interesting is that both scenarios are bullish. This is definitely very important for investors, while traders should be patient.

As you can see, we are tracking a big A-B-C irregular expanded flat correction, where wave C looks to be ending diagonal (wedge) pattern, the only question is either wave C is finished or still in progress.

Now that silver is trading at September highs, we still have to be aware of a retest of September lows and 21-20 support area, but any strong continuation higher towards 26 area would be definitely signal that ending diagonal within wave C is completed and bulls back in the game.

All the best!
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Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.