Elliott wave analysis: Silver breaking out of bullish flag

Gregor Horvat Wavetraders

We can see some US dollar weakness after the CPI report, so despite good numbers, seems like USD may stay down at least for a short period of time as we see metals on the way up after reaching projected support. Looking at the silver, we can see a nice bounce after a three-wave a-b-c corrective setback, which means that wave C/3 up can be now already in play with room for more gains towards 26-27 area.

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Author

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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