Silver is Pointing To February Highs: Intraday Elliott Wave Analysis
Mar 31, 2023

XAGUSD

Silver with ticker XAGUSD is recovering in an impulsive fashion in March, which from Elliott wave perspective indicates for a five-wave bullish cycle, while it’s nicely trading within channel range. Now that silver is close to February highs, we may not see any bigger corrections before a breakout higher to clear the stops. We might just see a pullback in wave 4 with support around 23.50 level before the uptrend for wave 5 resumes.

Silver is Pointing To February Highs: Intraday Elliott Wave Analysis XAGUSD 1h chart
XAGUSD 1H Chart

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