Elliott Forecast - Elliott Wave Intraday View in Silver (XAGUSD) Favoring the Upside

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Elliott Forecast

Eric Morera

Elliott Wave Intraday View in Silver (XAGUSD) Favoring the Upside

Short Term Elliott Wave View in spot Silver (XAGUSD) suggests that rally from 8.8.2024 low is in progress as an impulse. Up from 8.8.2024 low, wave 1 ended at 30.18 and dips in wave 2 ended at 27.69. Wave 3 higher ended at 32.71 and pullback in wave 4 ended at 30.13 with internal subdivision as an expanded Flat structure. Down from wave 3, wave ((a)) ended at 30.86 and wave ((b)) rally ended at 32.95. Wave ((c)) lower ended at 30.1 and this completed wave 4 in higher degree.

The metal has turned higher again in wave 5 with internal subdivision as a 5 waves impulse. Up from wave 4, wave (i) ended at 30.76 and wave (ii) ended at 30.2. Wave (iii) higher ended at 31.3 and pullback in wave (iv) ended at 31.04. Final leg wave (v) ended at 31.62 which completed wave ((i)) in higher degree. Pullback in wave ((ii)) ended at 30.70. Wave ((iii)) is in progress higher and as far as pivot at 30.1 low stays intact, expect short term dips to find buyers in 3, 7, or 11 swing for further upside.

Silver (XAGUSD) 60 Minutes Elliott Wave Chart
Silver (XAGUSD) Elliott Wave Chart
XAGUSD Elliott Wave Video
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Source:-forecast.com/news/elliott-wave-view-silver-xagusd-favoring-upside/

17/10/2024 1 EN

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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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Elliott Wave Intraday View in Silver (XAGUSD) Favoring the Upside

AUDUSD Elliott Wave Analysis: short term favors downside from bounces

SPDR Consumer Staples ETF ( $XLP ) Found Buyers At The Blue Box Area.

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