• 647 days Will The ECB Continue To Hike Rates?
  • 647 days Forbes: Aramco Remains Largest Company In The Middle East
  • 649 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,049 days Could Crypto Overtake Traditional Investment?
  • 1,053 days Americans Still Quitting Jobs At Record Pace
  • 1,055 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,058 days Is The Dollar Too Strong?
  • 1,059 days Big Tech Disappoints Investors on Earnings Calls
  • 1,060 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,061 days China Is Quietly Trying To Distance Itself From Russia
  • 1,062 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,066 days Crypto Investors Won Big In 2021
  • 1,066 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,067 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,069 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,069 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,073 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,073 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,074 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,076 days Are NFTs About To Take Over Gaming?
Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

Joseph Russo

Joseph Russo

Joe Russo is an entrepreneurial publisher and market analyst providing digital online media solutions designed to assist traders and investors in prudently and profitably navigating…

Contact Author

  1. Home
  2. Markets
  3. Other

SILVER: Prospects for the Birth of a New Bull Run

Silver Bull

The prospect for the birth of a new Bull-Run in Silver speaks to a broader cyclical theme that relates to a dying dollar bull, and a corollary cyclical sentiment shift back toward a strong market preference for tangible vs. paper assets. From its current cyclical low in December of 2015, Silver Bullion has risen 30%.

In the broadest of terms, the above referenced theme would suggest the early adoption of a general pair's trade that was short the dollar and long commodities.

At present, from an Elliott Wave perspective, the 30% rally in Silver is somewhat tentative in terms of whether or not its wave structure is exhibiting impulsive (bullish) or corrective (bearish) patterns.

Daily Silver Chart

From its cyclical low at $13.63, the 1st wave move up to $15.99 appears impulsive. The sideways expanded flat/running correction to the noted wave-2 low at $14.78 was clearly corrective in nature, which led to a rather impressive run to the current print high just under $18.00.

The latest move up is clearly impulsive however; price needs to run higher in amplitude toward the $18.60 level or better yet, toward the rising blue upper trend channel boundary in order to satisfy the appearance of a sufficient 3rd wave advance.

 


Click here for additional observations relative to confirming the birth of a new bull market in Silver Bullion.

 

Back to homepage

Leave a comment

Leave a comment