XAG/USD Elliott Wave Analysis – Silver’s Fifth Wave in Progress?
🚀 XAG/USD Elliott Wave Analysis – Silver’s Fifth Wave in Progress?
📊 Market Context:
Silver is closely following gold’s price action, showing a strong correlation with gold and a potential bullish structure. The market is in the fifth wave of the third wave in a larger degree, indicating further upside potential.
📉 Key Levels to Watch:
Bullish Scenario (Conservative Approach): Any corrective structure—whether shallow and superficial or deep and fast—will be crucial in validating the continuation of the uptrend.
Aggressive Scenario: The impulsive wave structure must remain intact, without invalidating the key price level that would disrupt the bullish outlook.
📈 Silver’s Bullish Roadmap:
If silver holds above its critical support level, we expect a continuation of the rally as part of a larger third-wave extension. A confirmed impulse structure will indicate that the market is setting up for a powerful fifth wave movement.
💡 Correlation with the US Dollar (DXY):
Weakening DXY → Supports precious metals, boosting silver prices.
Strengthening DXY → Could trigger a short-term pullback (correction) or a longer-term consolidation, which needs to be monitored over time.
🔎 Key Takeaways:
✅ Silver is positioned for further gains if the correction holds above key support.
✅ A confirmed five-wave rally strengthens the bullish scenario.
✅ The correlation with gold and DXY should be closely monitored for confirmation signals.
📢 What’s Your View?
Do you agree with this Elliott Wave count? Drop your thoughts in the comments!
#Silver #XAGUSD #ElliottWave #TechnicalAnalysis #Forex #SilverForecast #WaveAnalysis #PriceAction #Trading #DXY #Investing
📊 Market Context:
Silver is closely following gold’s price action, showing a strong correlation with gold and a potential bullish structure. The market is in the fifth wave of the third wave in a larger degree, indicating further upside potential.
📉 Key Levels to Watch:
Bullish Scenario (Conservative Approach): Any corrective structure—whether shallow and superficial or deep and fast—will be crucial in validating the continuation of the uptrend.
Aggressive Scenario: The impulsive wave structure must remain intact, without invalidating the key price level that would disrupt the bullish outlook.
📈 Silver’s Bullish Roadmap:
If silver holds above its critical support level, we expect a continuation of the rally as part of a larger third-wave extension. A confirmed impulse structure will indicate that the market is setting up for a powerful fifth wave movement.
💡 Correlation with the US Dollar (DXY):
Weakening DXY → Supports precious metals, boosting silver prices.
Strengthening DXY → Could trigger a short-term pullback (correction) or a longer-term consolidation, which needs to be monitored over time.
🔎 Key Takeaways:
✅ Silver is positioned for further gains if the correction holds above key support.
✅ A confirmed five-wave rally strengthens the bullish scenario.
✅ The correlation with gold and DXY should be closely monitored for confirmation signals.
📢 What’s Your View?
Do you agree with this Elliott Wave count? Drop your thoughts in the comments!
#Silver #XAGUSD #ElliottWave #TechnicalAnalysis #Forex #SilverForecast #WaveAnalysis #PriceAction #Trading #DXY #Investing
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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.