The price action of silver is currently attempting to break out above the regression channel, which is likely to mark the beginning of a new massive uptrend.
Notice that the latest upswing commenced following the completion of a bearish 1-5 impulse wave pattern, as postulated by the Elliott Wave Theory.
The first significant bullish indication was the breakout above the 38.2 per cent Fibonacci retracement level at 22.961.
Notice that the latest upswing commenced following the completion of a bearish 1-5 impulse wave pattern, as postulated by the Elliott Wave Theory.
The first significant bullish indication was the breakout above the 38.2 per cent Fibonacci retracement level at 22.961.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.