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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Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.