Elliott Wave Analysis On Silver

By: Gregor Horvat | Tue, Sep 13, 2016
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For intraday traders the following chart of silver may be interesting from a technical stand point as turn up from 18.70 was in five waves, so current minor downward retracement to 19.00 can be a temporary wave. It can be minor correction within bigger three wave recovery that we see it in play as wave D) that belongs to a big triangle count. So in the short-term we may see leg up to 19.54-19.64 area once/if 19.22 is broken, and 19.70 remains in place.

Silver, 30Min

Silver 30-Minute Chart

Silver, 4H

Silver 4-Hour Chart

 


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Gregor Horvat

Author: Gregor Horvat

Gregor Horvat
www.ew-forecast.com

Gregor Horvat

Gregor Horvat, based in Slovenia, has been in the forex markets since 2003. He is a technical analyst and individual trader who has worked for Capital Forex Group and TheLFB.com. He also is founder of forex services on www.ew-forecast.com. EW-Forecast.com provides technical analysis of the financial markets, highlighting behavioral patterns based on the Elliott Wave Principle (EWP). Website: http://www.ew-forecast.com/

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