Gold ans Silver Taking Bullishly Off - Elliott wave analysis

Gregor Horvat Wavetraders

Gold and silver are on the move after recent minor consolidations that proved to be fourth waves, but possibly still within an extended wave three so more upside can follow after a retracement. In such case, watch the 18.20/30 support on silver and 1611 on gold, which has been a swing high back from Jan 07th.

Gold, 1h

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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