• 3 hours Inflation Wipes Out Wage Growth
  • 1 day Turks Flock To Safe Haven Assets As Lira Plummets
  • 2 days Did North Korean Hackers Just Steal $13M From Global ATMs?
  • 2 days Asian Tech Stocks Rebound After A Tough Week
  • 2 days Switzerland Bans New Audi, Mercedes, Porsche Imports
  • 2 days Sealing Off The North Korea Smuggling Loophole
  • 2 days This Tech Giant Is Pushing For Blockchain Adoption
  • 2 days Venezuela’s Gold Reserves Are Reaching Critical Levels
  • 3 days Brexit Woes Weigh On The British Pound
  • 3 days Forget Turkey, This Is The Biggest Threat To European Finance
  • 3 days There’s No Hiding From Google
  • 3 days Turkish Lira Bounces Back After Qatar Bailout Pledge
  • 3 days What Happens If Tesla Goes Private?
  • 3 days China's Most Powerful Weapon In The Trade War
  • 3 days Can The S&P 500 Shake Off Negative Sentiment?
  • 4 days Standards Go Out The Window As Employers Struggle To Fill Jobs
  • 4 days The Two Trillion Dollar Markets Amazon Hasn’t Conquered
  • 4 days Digital Supermodels Outperform Humans
  • 4 days France Could Lose Billions In EU Trade Route Redirection
  • 4 days Beer Giants Are Striking Out With Millennials
Time To Buy A Lada? Russian Auto Sales Are Booming

Time To Buy A Lada? Russian Auto Sales Are Booming

Russia’s flagship carmaker was once…

U.S.-Turkey Tensions Take A Dangerous Turn

U.S.-Turkey Tensions Take A Dangerous Turn

U.S.-Turkey tensions have reached a…

  1. Home
  2. Markets
  3. Other

Elliott Wave on Silver

Triangle breakout is near

Short Term Forecast

Silver appears to be in a triangle pattern currently in wave (E) down. We should see minor downside for Silver before a reversal and subsequent breakout to the upside. The downside could complete as wave (C) down or we could see further sideways action in wave (E) into the apex of the triangle. Our Gold, USD, Euro and CAD charts all support the Silver count as they are close to a reversal as well. We will monitor all of these charts to forecast a potential bottom in the metals. The recent newsletter for the USD illustrates a move higher to the 88 area before a reversal. This advance in an ending diagonal for the USD, so it could actually complete in the 87-88 area. The chart below illustrates that the corrective action for Silver since May 2006 is completing as a triangle.

When we see the price action for Silver break above the top horizontal line on the chart, it will confirm the breakout above the top trendline. A break below the the lower horizontal lines will be short term bearish and indicate that a larger WXY corrective pattern is in play.

These charts are only a guide so that you can follow the action and watch for the expected bottoming action in the triangle. The action could play out exactly as illustrated or it may need adjustments as we follow it through. Our charts on the currencies support minor downside for the metals and we can monitor the action to determine a turning point.

If you are interested in viewing these updated charts and other detailed charts with targets on a daily basis, please see the registration details below.

Elliott Wave Chart Site - IntraDay Market Updates on the DOW, Nasdaq, S&P500, Gold, Silver, HUI and the USD.

To learn more on the status of Gold, Silver, HUI and the USD, please visit the link below for registration details. The commentary and forecasts are updated daily, including intraday commentary and chart updates. Fibonacci pivot dates and cycle analysis are also utilized to forecast reversal dates. The indices covered include the NASDAQ, DOW, S&P 500, Nikkei, and DOW Transports. Commodity charts include the CRB Index, Copper, Crude, Sugar, Wheat, Corn, Soyabeans, Platinum, Palladium, Gold, Silver, HUI and the XAU (Gold and Silver index). Additional Elliott Wave charts cover the US Dollar (USD),(CAD), 10 Year Treasury Note Yield (TNX), Nortel, Ballard Power, North American Palladium, Placer Dome, Gold Corp, Barrick Gold, High River Gold, Pan American Silver, Couer D Alene Mines (CDE), Bema Gold (BGO.TO), Durban Roodeport Deep (DROOY), Newmont Mining (NEM) and Agnico Eagle Mines (AEM).

Registration Details

 

Back to homepage

Leave a comment

Leave a comment