Comment:
we noticed that the pattern is highly complex in silver not as easy in other instruments in which wave Z is developing itself as a triple three WXYXZ (letters in Black)
while analysing a bit deeper we've found that wave Z within which wave wxyxz is formed as another triple three (labelled in blue) is developing,where waves wxyx have been completed and wave z is on the final leg of downfall and aiming for a target of 12.5$ at 1st instance and 12$ to be a firm support ...incase 12.5 holds then trend changes up from there and if not expect silver to touch lows to 12$ and to reverse and for detailed analysis below this degree visit our blog here....
Comment:
Silver has tested all time highs of 49$ and plummeted from there it had also entered the correction phase (ABC) which is same as gold. The psychology have acted upon it exactly as in gold to unfold into complex corrective three wave combination structure (WXYXZ) where wave Z is unfolding in which waves W,X,Y,X are completed and wave z is being traded to complete wave A in one larger degree.
SILVER (XAG/USD) MONTHLY FORECAST
SILVER (XAG/USD) WEEKLY Forecast
Everybody know that a market is falling or rising, after its move is initiated or passed on to certain extent but we are the first in the field to call for highs in silver in coming months or years before the end of ongoing down trend...
We always have confidence in our analysis but however it is too early to judge or forecast this kind of move,we request every trader or analyst to follow our Silver Forecasts only in conjunction with yours.
Silver Elliott Wave Forecasts
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