Elliott Forecast - Silver (XAGUSD) Remains Sideways | ResearchPool

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Elliott Forecast

Daud Bhatti

Silver (XAGUSD) Remains Sideways

January 12, 2024 By

Short Term Elliott Wave view in Silver (XAGUSD) suggests that the metal shows a bearish sequence from 12.4.2023 high. The decline from 12.4.2023 high is unfolding as a . Down from 12.4.2023 high, wave A ended at 22.49 and wave B rally ended at 24.6. The metal resumes lower in wave C which subdivides into a 5 waves impulsive structure.

Down from wave B, wave (i) ended at 24.07 and wave (ii) ended at 24.48. The metal then resumes lower in wave (iii) towards 22.67. Wave (iv) ended at 23.02 with internal subdivision as a triangle. Final leg wave (v) ended at 22.46 which completed wave ((i)) of C in higher degree. Rally in wave ((ii)) of C is in progress as a zigzag structure. Up from wave ((i)), expect the metal to extend higher to end the first leg wave (a) of the zigzag. Then it should pullback in wave (b) before turning higher again in wave (c) to complete wave ((ii)). Near term, as far as pivot at 24.6 high stays intact, expect rally to fail in 3, 7, or 11 swing for further downside.

Silver (XAGUSD) 60 Minutes Elliott Wave Chart

XAGUSD Elliott Wave Video

Source:-forecast.com/news/silver-xagusd-remains-sideways/

12/01/2024 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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Daud Bhatti

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