Elliott Wave Analysis: SILVER Trading In A Temporary Fourth Wave; More Upside In View

Gregor Horvat Wavetraders

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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Author

Gregor Horvat

Wavetraders

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

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