Silver on A Bull Run! – Elliott wave analysis 

silver price analysis

Gregor - Author BIO photo


Silver is recovering with impulsive price action from 11.60 lows. We see waves 1 and 2 as completed, so current price activity from 14.48 level can belong to a wave 3 of a higher degree. Wave 3 is an impulse, therefore five legs must be structured, before resistance may be seen, and a wave 4 correction of a higher degree may show up.

Silver, daily

silver daily analysis

On the 4h chart of silver we can see metal at the end of a sub-wave iii of 3, so let us be aware of a minor corrective set-back as wave iv, which can start forming from around the 22.5/23.0 level.

A wave iv is a correction and may slow bulls temporarily down. It may form a flat, zig-zag or a double zig-zag move.

Silver, 4h

silver price analysis


Disclosure: Please be informed that information we provide is NOT trading recommendation or investment advice. All of our work is for educational purposes only.


By Gregor Horvat

Find more: Contributing Author


Leave a Comment

Broker Cyprus TopFX