Silver Analysis: Next Bounce Incoming? Elliott Wave Analysis
Why It Matters
A clear break above $77 could trigger a sharp silver rally, guiding traders' exposure to precious‑metal markets and influencing related investment strategies.
Key Takeaways
- •Silver sits between $49‑$60 support and $86‑$90 resistance
- •Elliott Wave analysis places market in a complex wave‑four correction
- •Short‑term micro support identified at $73‑$75 with two invalidation levels
- •Bullish breakout above $77 could push silver toward $80‑$83
- •Membership offers daily updates on silver, gold, and broader markets
Summary
The video provides an Elliott Wave analysis of silver, outlining its current price corridor between a four‑day support zone of roughly $49‑$60 and an upper resistance band near $86‑$90.
The analyst maintains that silver is still in a wave‑four correction that started in January, describing it as a complex B‑wave that could develop further. On the daily chart, the wave count remains unchanged, but the correction has become more intricate, a common trait for metal markets.
On shorter timeframes, a micro support area between $73‑$75 is highlighted, with two invalidation levels at $73.50 and $71.92. A break below the recent swing low at $73.46 would nullify a potential degree‑one‑two setup, while a bullish breach above the wave‑one high around $77 could propel silver toward $80‑$83, as seen on both futures and spot charts.
These levels give traders clear targets and risk points; watching the $73‑$75 zone and the $77 breakout is crucial for positioning. The analyst also promotes a membership service for daily updates on silver, gold, the S&P 500, and other assets.
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