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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The Silver Surfer must be pleased

It is a metaphor, of course. We are not talking about the comic character, surfing throughout the universe at the speed of light. Unless he is also a trader, who shorted silver in the middle of July. “We should not be surprised by prices around 16.00… maybe even lower.” This is the last sentence of…

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We warned you about silver, remember?

Four days ago, on July 12th, we showed you an article about silver called “One last breath for silver”. In this piece of material we warned you that the metal is in the last stage of its bull-trend and a reversal to the south is likely. In order to make this forecast, we used the following chart. During…

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One last breath for silver

Gold and silver often correlate with each other, but not always.  We already showed what we think about the yellow metal. Recommended reading: Gold to finish a 1-year-lasting pattern So now is the time to examine its cousin – silver. In the beginning of June 2014 silver bottomed around 18.60 and has been in a…

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Silver, intraday bullish signs

On the 30-minute chart of Silver we see a clear five-wave impulse to the upside, which puts our bigger picture scenario into action. However, according to the Elliott Wave Principle, after every five waves we should expect a three-wave move in the opposite direction. That is why we are waiting for wave (2)/B down, as shown on…

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Silver to the south

On the chart below you can see the impulsive decline in silver from 22.17 to 19.20. As you can notice, the whole three-dollar move developed in a perfect trend channel. If we look at the wave structure of this decline, we may be interested in the corrective waves 2 and 4. Wave 2 is an…

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Silver mania

Mass psychology plays a key role in forming trends in precious metals. The specific about precious metals is that they tend to form extended fifth waves in case of greed or fear of inflation. Silver has been trending down since 2011 and has lost its value by more than 50%. The first mania in silver…

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