$Silver = Monthly Analysis = 01.05.2022 $SLV #preciousmetals $XAGUSD #silver #ElliottWave

#Silver made a 50/100 weekly MA bearish cross. This event is rare and it happened only 9 times in the last 42 years. After such events that always triggered multi-week/month corrections, silver suffered an average loss of 35%. Range: 8-72%. If the metal targets a 35% loss now, it would be heading towards $16.

This is pure event statistics – let’s discuss the other perspectives.

This Overview contains:
– analysis of monthly/weekly/daily charts from the candles and TA perspectives;
– long term Elliott Waves Forecast.

This post is part of the Weekly Analyses series that InvestingAngles offers to followers and subscribers. The series covers US and major global indices; VIX, DXY, gold & silver, GDX, natural gas, oil, Bitcoin and Ethereum, and some large cap stocks.

Previous Weekly Analysis
https://investingangles.com/2022/04/24/silver-weekly-analysis-24-04-2022-slv-preciousmetals-xagusd-silver-elliottwave/

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