• 1,187 days Will The ECB Continue To Hike Rates?
  • 1,188 days Forbes: Aramco Remains Largest Company In The Middle East
  • 1,189 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,589 days Could Crypto Overtake Traditional Investment?
  • 1,594 days Americans Still Quitting Jobs At Record Pace
  • 1,596 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,599 days Is The Dollar Too Strong?
  • 1,599 days Big Tech Disappoints Investors on Earnings Calls
  • 1,600 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,602 days China Is Quietly Trying To Distance Itself From Russia
  • 1,602 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,606 days Crypto Investors Won Big In 2021
  • 1,606 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,607 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,609 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,610 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,613 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,614 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,614 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,616 days Are NFTs About To Take Over Gaming?
  1. Home
  2. Markets
  3. Other

SILVER Elliott Wave Technical Analysis

Originally posted 4th October, 2013

Movement below 21.216 invalidated last week's wave count. Minor wave B is continuing lower as a double zigzag.

XAG/USD Daily Chart
Larger Image

A downwards zigzag is unfolding at primary wave degree. Within the zigzag intermediate wave (A) is complete. Intermediate wave (B) is an incomplete zigzag.

Minor wave B is an incomplete double zigzag. Within the second zigzag minuette wave (c) is incomplete.

Minor wave B may not move beyond the start of minor wave A. This wave count is invalidated with movement below 18.215.

XAG/USD 1-Hour Chart
Larger Image

Within minuette wave (c) so far there is a zigzag downwards, followed by a zigzag upwards which did not make a new high. This may be an ending diagonal unfolding.

Within an ending diagonal all the sub waves must subdivide as zigzags. The third wave must move beyond the end of the first, so subminuette wave iii must make a new low below 20.623.

If subminuette wave c has begun then within it micro wave A and now B are most likely complete. Micro wave B subdivides as a contracting triangle.

At 20.529 micro wave C would reach 2.618 the length of micro wave A.

If subminuette wave ii continues further it may not move beyond the start of subminuette wave i. This wave count is invalidated with movement above 22.139.

 

Back to homepage

Leave a comment

Leave a comment