Silver With The Most Important Breakout Of The Last 3 YearsApr 4, 2024

Silver is trading sideways since 2021, a move that can be a corrective because of choppy and overlapping price action. Ideally, that’s a very big triangle that can be coming to an end as metal is turning higher now and breaking the IMPORTANT trendline resistance of this contracting range. Ideally, A-B-C-D-E pattern is finished, so be aware of more upside, especially as a structure away from 21.90 looks impulsive, with no overlaps.

However, there can be some retracement within recovery, maybe new fourth wave is already around the corner as silver can slow down a bit at the end of blue wave 3.

Support on dips is around $25.

One of the reasons why I think silver can do well is also a potential dovish case from the FED this year. If they are realy ready to act and lower rates, this can be supportive for teh economy and commodites can benefit based on increased demand. And this may alow silver to move even higher.


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.

TLT Is In Deep, But Corrective Decline


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.