Hi Ellioticians, silver is trading choppy and corrective for the last year and a half. We see a possible completed complex correction in II, down from 29.87 high, which means more upside can be expected for silver in the long run. At the moment we are observing an idea of an Elliott wave leading diagonal in blue wave 1 of III, which is a wedge and still needs two more legs to fully develop. Lower ending diagonal line can react as support.
In case 21.47 gets broken, then higher degree wave II can still be unfolding as a complex correction. If we get a sharp and impulsive move above the 28.74, 30.0 area, then higher degree wave III can already be in full motion, and more upside underway.
Trade well.
In case 21.47 gets broken, then higher degree wave II can still be unfolding as a complex correction. If we get a sharp and impulsive move above the 28.74, 30.0 area, then higher degree wave III can already be in full motion, and more upside underway.
Trade well.