Silver extends the rally: Elliott Wave update [Video]
|We talked about silver last week on September 05, where we mentioned and highlighted an ongoing five-wave bullish impulse. CLICK HERE
Silver is moving higher as expected, pushing even beyond 40, to new highs of the year, so it’s clear that higher degree wave four is finished as a flat correction back at 36.20, so be aware of even further continuation higher within higher degree wave 5, while market trades above 38.74. The fact is that we need five subwaves now in this blue wave 5 cycle, and currently it looks to be trading in subwave 5 of (3), so more gains can follow after next wave (4) correction. Support is near 40,88 – 40,53 on retracements.
XAG/USD (Silver) four-hour chart
For a detailed view and more analysis like this, you may want to watch below our latest recording of a live webinar streamed on September 08 2025:
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