Silver Is Making A Pullback Within UptrendNov 2, 2023

Silver Is Making A Pullback Within the Uptrend from a technical point of view and from Elliott wave perspective.

Silver recovered in an impulsive fashion on geopolitical issues as we have been talking in the past updates and there can be a bullish opportunity after a pullback as shared back on October 16. CLICK HERE

Silver Is Making A Pullback Within Uptrend SILVER 4H Chart

Notice that rally back above 22.33 horizontal swing level is strong and impulsive, so ideally that’s going to be part of a new recovery that can send metal even towards 24-25 area, but after wave B pullback that is now in progress and can find a support at 22.20-22.50 area. Also, we can see a potential HS bottom formation currently with the right shoulder playing out as a wave B.

So we think that silver can resume the recovery still this year, with a big upward potential if the neckline around $23.60 is out decisively.

Silver Is Making A Pullback Within Uptrend SILVER 4H Technical Chart
SILVER 4H Technical Chart

Become a premium member

Get daily Elliott Wave updates for some major Digital currencies, FIAT currency markets, major stock indexes, gold, silver, crude etc. or apply for unlimited access to the Elliot Wave educational videos.

Register here (Limited-Special 2 for 1 Offer available)

Dow Jones Formed A Leading Diagonal?. Check our free chart HERE.


Any reviews, news, analysis, prices or other information contained on our website is provided as general market commentary and delivered electronically through a distribution channel to larger number of clients, therefore does not constitute investment advice or investment research. We are not trading advisors. Most of our work is for educational purposes only, with information based on Elliott Wave theory in real time. Trading forex, futures, options, stocks, cryptocurrenices or any another trading market carries a high level of risk, and may not be suitable for all investors.

The possibility exists that you could lose some or all of your initial investment; therefore you should not invest money that you cannot afford to lose. Our website and the information that we provide should not be relied upon as a substitute for extensive independent research before making your investment decisions. In no event will we be liable for any loss or damage on your account in connection with, the use of our products. For any real cash investments you have to contact your financial advisor.

Any information or material contained on our website is owned by Val Global d.o.o.. Reproduction is prohibited without Val Global d.o.o. prior license in writing.

By continuing to use the site, you agree to the use of cookies. Learn more.

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.