Elliott Forecast - Elliott Wave Analysis on Silver (XAGUSD) Expects Further Correction Lower | ResearchPool

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Elliott Forecast

Eric Morera

Elliott Wave Analysis on Silver (XAGUSD) Expects Further Correction Lower

Short Term Elliott Wave in XAGUSD (Silver) suggests cycle from 5.20.2024 high remains in progress as a . Down from 5.20.2024 high, wave ((a)) ended at 30.03 and wave ((b)) rally ended at 32.29. Wave ((c)) lower ended at 29.36 which completed wave W. Rally in wave X has ended at 31.53 as the 1 hour chart below shows. Wave Y lower is now in progress as another double three in lower degree.

Down from wave X, wave (a) ended at 29.1 and rally in wave (b) ended at 30.25. Wave (c) lower ended at 28.64 which completed wave ((w)) in higher degree. Rally in wave ((x)) unfolded as a zigzag structure. Up from wave ((w)), wave (a) ended at 29.57 and pullback in wave (b) ended at 28.90. Wave (c) higher ended at 30.84 which completed wave ((x)) in higher degree. The metal has turned lower in wave ((y)). Down from wave ((x)), wave (a) ended at 29.32 and rally in wave (b) ended at 29.72. The metal has extended lower in wave (c). Near term, as far as pivot at 31.53 high stays intact, expect rally to fail in 3, 7, 11 swing for further downside.

XAGUSD 60 Minutes Elliott Wave Chart

Silver (XAGUSD) Elliott Wave Video

Source:-forecast.com/news/silver-xagusd-may-see-correction-lower/

25/06/2024 1 EN

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Elliott Forecast

Elliott Forecast

Elliottwave-Forecast.com (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to thousands of clients. ElliottWave-Forecast has built a reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, Cycles, Proprietary Pivot System, we provide precise forecasts with up-to-date analysis for 52 instruments including FX majors, Gold, Silver, Copper, Oil, TNX and major Equity Indices. Our clients also have immediate access to our proprietary Actionable Trade Setups, Market Overview, 1 Hour, 4 Hour, Daily & Weekly Wave Counts. Weekend Webinar, Live Screen Sharing Sessions, Daily Technical Videos, Educational Resources, and 24 Hour chat room where they are provided live updates and given answers to their questions.

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Eric Morera

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