Silver, D1 - corrective wave 4. Waiting for wave 5
Looking at the silver price chart, we may see the potential wave structure known from Elliott Wave Theory. The current price rebound could be marked as the fourth wave after a strong downward impulse, as a possible third wave.
The potential range for the fifth wave may therefore be located in the area of 61.8 or 100 percent measuring relative to the first wave. If a downward movement appears, then the fifth wave could be expected to form. Then, if the impulse ends, the price of silver could start to rise strongly.
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Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
60% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
The potential range for the fifth wave may therefore be located in the area of 61.8 or 100 percent measuring relative to the first wave. If a downward movement appears, then the fifth wave could be expected to form. Then, if the impulse ends, the price of silver could start to rise strongly.
________
Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
60% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.