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Lara Iriarte

Lara Iriarte

I have been using the Elliott wave principle to analyse up to five markets a day since 2008. I began Elliott Wave Forex (originally ForexInfo.us)…

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SILVER Elliott Wave Technical Analysis

At the daily chart level it looks like minute wave ii is incomplete and found resistance at the upper edge of the channel.

I would expect a little more downwards movement overall to complete an ending contracting diagonal, which should be followed by overall upwards movement. The target for downwards movement to end is just below 19.327. Downwards movement should not breach 18.585.

When there is a full daily candlestick above the channel and not touching the upper trend line then I would have confidence in a trend change.

XAG/USD Daily Chart
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