Silver Looking for Support near $15 Mark

A little over a month ago, the price of silver was hovering around $16 following a strong rally from as low as $13.90 in November 2018. Many traders saw this 15% surge as a sign of even better things to come. Unfortunately for them, yesterday an ounce of silver was switching hands for about $15.…

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Silver Prices on the Verge of a Breakout

Silver prices spent the last year and a half locked between $19 and $15.19, unable to choose a direction and leave this range. The precious metal is still in its boundaries, currently trading around $17.28, but from an Elliott Wave point of view it looks like we are finally going to see a breakout. Bullish…

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Price of Silver Could be Aiming at 22.00

The price of silver bottomed at 15.62 in the last month of 2016 and has been in an uptrend ever since. The precious metal is currently trading at $18.33, after recovering from its mid-March swing low. On the other hand, we could also say that the current price of silver is in the middle of…

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Silver to Run Out of Fuel, Again?

Just eight days ago, on April 5th, Silver was trading around 15.10 after having bottomed at 14.78 a couple of trading days before. That was also the day, when we published “Silver Has Been Great. Now What?” to share with our readers that the Elliott Wave Principle was flashing bullish signs. The following chart was…

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Silver Has Been Great. Now What?

It has been less than a week since we published “What Is Next for Beaten Down Silver?” on March 29th. This article came right after a steep decline of about a dollar an ounce in the price of silver. Its purpose was to show how we could predict reversals, but also to warn traders for an upcoming…

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What Is Next for Beaten Down Silver?

Silver was hovering around the highs of $16 an ounce just a week ago, but suddenly fell by a dollar and is currently hesitating near the $15 mark. Could this sharp decline be predicted and if yes – how? We cannot tell you how others might have done it, but our way is not by…

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Silver Seems to Be Running Out of Fuel

The price of silver fell to as low as 13.64 on December 14th, 2015, and has been rallying ever since. On March 18th, 2016, the precious metal climbed to 16.13 and seems to still be in an uptrend. But is this the right time to join the bulls on their way up? Could we expect…

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Silver Bulls Prepare to Attack Soon

The Elliott Wave Principle is market forecasting method based on pattern recognition. The main idea is that prices move in repetitive patterns, visible on a price chart, which make the market, to a degree, predictable. Now, let’s examine the 4-hour chart of silver(XAGUSD), in order to see if we could find a pattern, which could…

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Silver Bears To Take A Rest?

It’s been more than a month since the price of silver topped at $17.75 on May 18th. The bears have been in the driving seat ever since, which led the precious metal to $15.52 as of June 26th. This steady decline by $2.23 in just six trading weeks might convince you now is a good time…

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Silver Prices Still Going South?

Despite silver’s strong 3-dollar recovery from 14.30 to 17.30, the bulls were unable to keep the momentum. As a consequence, the price of silver went down to the 15.50 mark again. The most important thing is the wave structure of this decline. As the chart below demonstrates, it is a five-wave impulse. Note that the…

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Silver Prices: Correction Within Uptrend

The first of December was an interesting day for silver. At first, prices fell to as low as 14.33, but this weakness turned out to be short-lived. By the end of the day silver prices climbed up to 16.80. The wave structure of this 2.5-dollar rise increases the odds in favor of a larger uptrend…

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A Confusing Type of Flat Correction

In our Education Section there is a lesson, called “Elliott Wave Patterns”, where you can learn in details about all three variations of the flat correction. The most important thing you should know about a flat is its wave structure. It consists of three waves, labeled A-B-C. Waves A and B have three sub-waves, while…

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It Took Silver Only Ten Days

“This recovery could be limited under the $17 mark… We should not be surprised by price of silver below $15.” It was November 21st , when we made this forecast about silver, titled “Price of Silver: Upside Could Be Limited”. Ten days ago we pointed out, that the wave structure of silver’s recovery seems to be corrective. The chart…

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Price of Silver: Upside Could Be Limited

The price of silver managed to run away from the lows around $15. During the last two weeks the precious metal made a couple of jumps, which led prices above 16.50 as of today. However, this recovery could be limited under the $17 mark. The Elliott Wave analysis of silver’s price action will show you why.…

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Silver: Mission Accomplished. Now What?

“We should not be surprised by prices around 16.00… maybe even lower.” This is the last sentence of an article, called “One Last Breath for Silver”, which we published on July 12th, 2014. When we made that forecast silver was trading slightly above 21.40. So, four months ago we were expecting a decline of at least…

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