Elliott Forecast - Silver (XAGUSD) Ended Correction and Turned Higher | ResearchPool

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Elliott Forecast

Daud Bhatti

Silver (XAGUSD) Ended Correction and Turned Higher

November 14, 2023 By

Silver (XAGUSD) cycle from 10.3.2023 low is in progress as an impulse. Up from 10.3.2023 low, wave (1) ended at 23.69 and pullback in wave (2) is proposed complete at 21.86. Down from wave (1), wave W ended at 22.52 and rally in wave X ended at 23.3. Internal subdivision of wave X unfolded as a zigzag structure. Up from wave W, wave ((a)) ended at 23.12, wave ((b)) ended at 22.57, and wave ((c)) ended at 23.3. This completed wave X in higher degree.

The metal then extended lower in wave Y. Down from wave X, wave ((a)) ended at 22.28, and wave ((b)) rally ended at 22.98. Wave ((c)) lower ended at 21.86 which also completed wave Y of (2) in higher degree. The metal has turned higher in wave (3). A break above wave (1) at 23.69 will confirm this view. Up from wave (2), expect wave (i) to end soon, then it should pullback in wave (ii) to correct the rally in wave (i) before the metal resumes higher again. Near term, as far as pivot at 21.86 low stays intact, expect pullback to find support in 3, 7, 11 swing for further upside.

Silver 60 Minutes Elliott Wave Chart

Silver (XAGUSD) Elliott Wave Video

Source:-forecast.com/news/silver-xagusd-ended-correction-turns-higher/

14/11/2023 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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Daud Bhatti

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