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Silvershort

SILVERIn a clear bearish channel. Odds are for further downside. Blue triangle indicates the current range. Green box is buy. Red box is sell. Blue line indicates potential support/resistance . Green line indicates t/p. This is a log chart. This is not financial advice. All charts shown on my page, including this one, are just for fun. If you enjoy my ideas please give this post a like and follow my page if you would like to see future posts! :) This chart is made using fib channels.
TVC:SILVERShort
by Halams
5
Elliott Wave View: Silver Extending LowerShort term Elliott Wave view on Silver (XAGUSD) suggests that the decline from February 21, 2019 ($16.21) is incomplete. Structure of the decline from $16.21 is unfolding as a zigzag Elliott Wave structure. Wave B of this zigzag structure ended at $15.63. Wave C lower has started and should subdivide in 5 waves. Down from $15.63, wave ((i)) ended at $14.88 and wave ((ii)) ended at $15.34. The internal of wave ((i)) subdivides as 5 waves of lesser degree. Wave (i) of ((i)) ended at $15.35 and bounce to $15.58 ended wave (ii) of ((i)). The metal then turned lower in wave (iii) of ((i)) and ended at $14.95. Wave (iv) of ((i)) ended at $15.16 and wave (v) of ((i)) ended at $14.88. Bounce in wave ((ii)) unfolded as a zigzag Elliott Wave structure in lesser degree. Wave (a) of ((ii)) ended at $15.8, wave (b) of ((ii)) ended at $15.08, and wave (c) of ((ii)) ended at $15.34. Silver has since resumed lower and broken below wave ((i)) at $14.88, suggesting the next leg lower has started. We don’t like buying the bounce and expect bounce should find sellers in 3, 7, or 11 swing as far as pivot at $15.34 stays intact
FX:XAGUSDShort
by Elliottwave-Forecast
Elliott Wave View: Short Term Weakness in SilverSilver broke below March 7 low ($14.96) and shows a sequence of lower low from Feb 21 high ($16.2), suggesting further downside is likely in the shorter cycle. The decline from Feb 21 looks is unfolding as a zigzag Elliott Wave structure. Down from $16.2, wave (A) ended at $14.96 and wave (B) bounce ended at $15.64. Internal of wave (B) subdivided as a double three Elliott Wave structure where wave W ended at $15.53, wave X ended at $15.1, and wave Y ended at $15.63. As Silver has broken below wave (A) at $14.96, this confirms wave (C) has started. An ABC zigzag Elliott Wave structure has a subdivision of 5-3-5. Thus, wave (C) lower needs to have at minimum 5 waves subdivision. Down from $15.63, wave ((a)) ended at $15.35, wave ((b)) ended at $15.58, and wave ((c)) of wave 1 ended at 14.95 low. Above from there we are currently in the bounce in wave 2 which should fail against 15.638 peak. Potential wave (C) target can be measured as equal to wave (A), which comes to as low as $14.08 – $14.37. This will effectively retest the 2018 low at $13.87. Wave (C) may truncate and not reach the ideal equality at $14.08 – $14.37, but at least we should be able to see 5 waves subdivision within wave (C). Near term, while bounces stay below $15.63, expect Silver to extend lower.
COMEX:SI1!Short
by Elliottwave-Forecast
Silver on turning pointSilver has reached an important resistance: the long term falling trend line! This line is coming from 2011. A fight between bulls and bears is to be expected at this zone. If the bears win the price will fall on to the lower limit of the trend channel (14.14$) - where we find also support from a swing trend line. Below that level the price finds another support on 13.91$ (fib retracement Zero and lower limit of the parallel trend channel). RSI stays in bullish zone and is signalling strength; meanwhile MACD seems to give a new bearish sign. It would be not too surprising if the bears make it this time. But in longer term I expect the price to cross the resistance and to reach the circle. The difference between investing now or investing at prices around 14$ isn´t very much. Some 8% to 12% or so. This is no trading advice!!
TVC:SILVERShort
by Luettis