Sunday, October 2, 2016

Silver - Set to extend decline before a decent rally

After 3 waves down from 21.11 the shiny stuff was stuck in a triangle for the last 6 weeks. And because the move started with 3 waves we now can assume that the (not yet complete) full decline from 21.11  is corrective and that we will see higher prices later on. 

A drop below 18.90 would confirm that the triangle is complete and that we will see a new 3-wave decline from here. 




Thursday, July 14, 2016

Silver - Still more upward movement expected

Silver is in a minor wave 2 and minor wave 3 will likely soon take off. Price plunging below 19.20 would invalidate this count.

Larger picture: Silver is in a wave 3 with ideal target 23 (1.618 extension of wave 1)





Friday, July 8, 2016

Silver - Still some way to go, more upside likely

The move from 49 to 13 was a wave 2 or B and unfolded as a zigzag and the rally from 13 is impulsive. Wave 1 completed at 18 followed by wave 2 which ended at 15.82. The ideal target for this smaller degree wave 3 that we're currently in is 22.87 (1.618 * wave 1).

Below 18.25 would invalidate this count.



Wednesday, June 22, 2016

Gold - completed a first 5-wave structure at 1315

The dollar looks to become stronger, Gold completed a 5-wave structure at 1315 and should go down now in a corrective fashion. This will likely give the dollar a short term boost across the board.