Elliott Wave Analysis: SILVER Trading In A Temporary Fourth Wave; More Upside In View
|Silver is retesting 18.22 highs but bullish price structure is not looking strong enough to convince me that this is already a fifth wave up. In fact, there was a very sharp and fast pullback down in wave 2 Back in March 16th so we can expect wave 4 to be more complex, it's called rule of "alternation". That said, we are observing a flat for wave 4 where price in subwave c can still come down to 17.90-18.00 area and then bounce higher.
SILVER, 1H
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