Elliott Forecast - Silver (XAGUSD) Preparing for Breakout Higher | ResearchPool

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Elliott Forecast

Daud Bhatti

Silver (XAGUSD) Preparing for Breakout Higher

November 23, 2023 By

Silver (XAGUSD) shows a higher high (bullish) sequence from 10.3.2023 low favoring further upside. The rally higher from 10.3.2023 is unfolding as a 5 waves impulse. Up from 10.3.2023 low, wave (1) ended at 23.69 and pullback in wave (2) ended at 21.86 as the 1 hour chart below shows. Wave (3) higher is currently in progress with internal subdivision as an impulse in lesser degree. Up from wave (2), wave ((i)) ended at 22.47 and wave ((ii)) ended at 22.31.

Wave ((iii)) ended at 23.18, wave ((iv)) ended at 23.01, and final wave ((v)) higher ended at 24.14. This completed wave 1 in higher degree. Wave 2 pullback is currently in progress with internal subdivision as a . Down from wave 1, wave (a) ended at 23.54, wave (b) ended at 23.8, and wave (c) ended at 23.22. This completed wave ((w)). Wave ((x)) rally is proposed complete at 24.01. Expect the metal to turn lower in wave ((y)) towards the blue box area of 23.5 – 23.08. From this area, buyers should appear and the metal should resume higher. As far as pivot at 21.85 low stays intact, expect pullback to find support in 3, 7, 11 swing for further upside.

Silver (XAGUSD) 60 Minutes Elliott Wave Chart

Silver (XAGUSD) Elliott Wave Video

Source:-forecast.com/news/silver-xagusd-preparing-breakout-higher/

23/11/2023 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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