Silver (XAGUSD) Remains Sideways

Elliottwave_Forecast

Silver (XAGUSD) Remains Sideways

January 12, 2024 By EWFHendra

Short Term Elliott Wave view in Silver (XAGUSD) suggests that the metal shows a bearish sequence from 12.4.2023 high. The decline from 12.4.2023 high is unfolding as a zigzag Elliott Wave structure. Down from 12.4.2023 high, wave A ended at 22.49 and wave B rally ended at 24.6. The metal resumes lower in wave C which subdivides into a 5 waves impulsive structure.

Down from wave B, wave (i) ended at 24.07 and wave (ii) ended at 24.48. The metal then resumes lower in wave (iii) towards 22.67. Wave (iv) ended at 23.02 with internal subdivision as a triangle. Final leg wave (v) ended at 22.46 which completed wave ((i)) of C in higher degree. Rally in wave ((ii)) of C is in progress as a zigzag structure. Up from wave ((i)), expect the metal to extend higher to end the first leg wave (a) of the zigzag. Then it should pullback in wave (b) before turning higher again in wave (c) to complete wave ((ii)). Near term, as far as pivot at 24.6 high stays intact, expect rally to fail in 3, 7, or 11 swing for further downside.

Silver (XAGUSD) 60 Minutes Elliott Wave Chart

Silver (XAGUSD) 60 Minutes Elliott Wave Chart

XAGUSD Elliott Wave Video

https://youtu.be/E6GFGF9VVkY

Source:https://elliottwave-forecast.com/news/silver-xagusd-remains-sideways/

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

Derrickola
01-13
Derrickola
Great ariticle, would you like to share it?
NaTrades
01-14
NaTrades
Great ariticle, would you like to share it?
zeeling
01-14
zeeling
A great campaign and game for all to win
Nkx
01-14
Nkx
Great ariticle, would you like to share it?
APCNZ
01-13
APCNZ
👍
KSR
01-13
KSR
👍

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The decline from 12.4.2023 high is unfolding as a zigzag Elliott Wave structure. Down from 12.4.2023 high,&nbsp;wave A ended at 22.49 and wave B rally ended at 24.6. The metal resumes lower in wave C which subdivides into a 5 waves impulsive structure.</p>\n<p style=\"text-align: justify;\">Down from wave B, wave (i) ended at 24.07 and wave (ii) ended at 24.48. The metal then resumes lower in wave (iii) towards 22.67. Wave (iv) ended at 23.02 with internal subdivision as a triangle. Final leg wave (v) ended at 22.46 which completed wave ((i)) of C in higher degree. Rally in wave ((ii)) of C is in progress as a zigzag structure. Up from wave ((i)), expect the metal to extend higher to end the first leg wave (a) of the zigzag. Then it should pullback in wave (b) before turning higher again in wave (c) to complete wave ((ii)). Near term, as far as pivot at 24.6 high stays intact, expect rally to fail in 3, 7, or 11 swing for further downside.</p>\n<h2>Silver (XAGUSD) 60 Minutes Elliott Wave Chart</h2>\n<p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/a4059efd25401347ecbcbfa106307095\" tg-width=\"1912\" tg-height=\"941\"><span>Silver (XAGUSD) 60 Minutes Elliott Wave Chart</span></p>\n<h2>XAGUSD Elliott Wave Video</h2>\n<p>https://youtu.be/E6GFGF9VVkY</p>\n<p>Source:https://elliottwave-forecast.com/news/silver-xagusd-remains-sideways/</p></body></html>","htmlText":"<html><head></head><body><p></p>\n<h2>Silver (XAGUSD) Remains Sideways</h2>\n<p>January 12, 2024 By EWFHendra</p>\n<p style=\"text-align: justify;\">Short Term Elliott Wave view in Silver (XAGUSD) suggests that the metal shows a bearish sequence from 12.4.2023 high. The decline from 12.4.2023 high is unfolding as a zigzag Elliott Wave structure. Down from 12.4.2023 high,&nbsp;wave A ended at 22.49 and wave B rally ended at 24.6. The metal resumes lower in wave C which subdivides into a 5 waves impulsive structure.</p>\n<p style=\"text-align: justify;\">Down from wave B, wave (i) ended at 24.07 and wave (ii) ended at 24.48. The metal then resumes lower in wave (iii) towards 22.67. Wave (iv) ended at 23.02 with internal subdivision as a triangle. Final leg wave (v) ended at 22.46 which completed wave ((i)) of C in higher degree. Rally in wave ((ii)) of C is in progress as a zigzag structure. Up from wave ((i)), expect the metal to extend higher to end the first leg wave (a) of the zigzag. Then it should pullback in wave (b) before turning higher again in wave (c) to complete wave ((ii)). Near term, as far as pivot at 24.6 high stays intact, expect rally to fail in 3, 7, or 11 swing for further downside.</p>\n<h2>Silver (XAGUSD) 60 Minutes Elliott Wave Chart</h2>\n<p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/a4059efd25401347ecbcbfa106307095\" tg-width=\"1912\" tg-height=\"941\"><span>Silver (XAGUSD) 60 Minutes Elliott Wave Chart</span></p>\n<h2>XAGUSD Elliott Wave Video</h2>\n<p>https://youtu.be/E6GFGF9VVkY</p>\n<p>Source:https://elliottwave-forecast.com/news/silver-xagusd-remains-sideways/</p></body></html>","text":"Silver (XAGUSD) Remains Sideways January 12, 2024 By EWFHendra Short Term Elliott Wave view in Silver (XAGUSD) suggests that the metal shows a bearish sequence from 12.4.2023 high. The decline from 12.4.2023 high is unfolding as a zigzag Elliott Wave structure. Down from 12.4.2023 high, wave A ended at 22.49 and wave B rally ended at 24.6. The metal resumes lower in wave C which subdivides into a 5 waves impulsive structure. Down from wave B, wave (i) ended at 24.07 and wave (ii) ended at 24.48. The metal then resumes lower in wave (iii) towards 22.67. Wave (iv) ended at 23.02 with internal subdivision as a triangle. Final leg wave (v) ended at 22.46 which completed wave ((i)) of C in higher degree. Rally in wave ((ii)) of C is in progress as a zigzag structure. Up from wave ((i)), expect the metal to extend higher to end the first leg wave (a) of the zigzag. Then it should pullback in wave (b) before turning higher again in wave (c) to complete wave ((ii)). Near term, as far as pivot at 24.6 high stays intact, expect rally to fail in 3, 7, or 11 swing for further downside. Silver (XAGUSD) 60 Minutes Elliott Wave Chart Silver (XAGUSD) 60 Minutes Elliott Wave Chart XAGUSD Elliott Wave Video https://youtu.be/E6GFGF9VVkY 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