Elliott Wave Analysis: SILVER and Crude OIL

By: Gregor Horvat | Fri, Apr 7, 2017
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Silver

Silver is seen in fifth wave up now with some overlapping price action from the last few days, so it can be an ending diagonal in wave 5) with resistance near 18.50. We think that price may turn south for a new corrective set-back.

SILVER, 1H

Silver 1-Hour Chart


Crude OIL

Crude oil is turning slightly lower after that spike up to 53.00. We see energy now approaching a trendline support which may be broken soon. Fall below it will indicate that three wave drop can be finally here.

Crude OIL, 1H

Crude Oil 1-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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