Silver remains under pressure in the short term, and the current Elliott Wave structure suggests that the decline may not be complete yet.
On the 60-minute chart, the move from the September 23 high appears to be developing as a five-wave bearish impulse.
We are currently approaching the final stages of this structure. My primary scenario suggests a small wave 4 correction followed by one more decline in wave 5.
🎯 Target zone: $58–59
This move could complete wave (C) and potentially the larger [X] corrective structure.
If the $58–59 area holds and we see a clear five-wave completion, I will start looking for a bullish reversal.
📈 The bigger picture remains bullish.
A completed correction could open the door for the next major advance in Silver, with the market potentially returning toward the previous highs and, eventually, the $70 area.
Key levels:
🔴 Short-term outlook: Bearish
🎯 Downside target: $58–59
🟢 Larger trend: Bullish
📈 Bullish confirmation: completion of the five-wave decline + reversal structure
This is my primary Elliott Wave scenario. The wave count may change as new price action develops.
#Silver #XAGUSD #ElliottWave #SilverForecast #TechnicalAnalysis #PreciousMetals
On the 60-minute chart, the move from the September 23 high appears to be developing as a five-wave bearish impulse.
We are currently approaching the final stages of this structure. My primary scenario suggests a small wave 4 correction followed by one more decline in wave 5.
🎯 Target zone: $58–59
This move could complete wave (C) and potentially the larger [X] corrective structure.
If the $58–59 area holds and we see a clear five-wave completion, I will start looking for a bullish reversal.
📈 The bigger picture remains bullish.
A completed correction could open the door for the next major advance in Silver, with the market potentially returning toward the previous highs and, eventually, the $70 area.
Key levels:
🔴 Short-term outlook: Bearish
🎯 Downside target: $58–59
🟢 Larger trend: Bullish
📈 Bullish confirmation: completion of the five-wave decline + reversal structure
This is my primary Elliott Wave scenario. The wave count may change as new price action develops.
#Silver #XAGUSD #ElliottWave #SilverForecast #TechnicalAnalysis #PreciousMetals
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إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.