Silver – Weekly Analysis
In this weekly update, we analyze silver’s current structure through the lens of price action, momentum indicators, and wave formations. By examining signal alignment across various time frames, we highlight the most probable near- and mid-term trajectories. This targeted breakdown is available exclusively to our members.
CANDLES:
At the start of Friday, it looked like silver might ignite the next leg up. However, it failed to overcome the bearish pressure stemming from Tuesday’s candle and has, at best, settled into a neutral stance. Both the 3D and weekly frames are showing potentially bearish formations, though confirmation is still required. The first two trading days of the week will be pivotal in shaping the short-term momentum.
For now, the mid- and long-term trends remain bullish, pending a confirmed reversal on the weekly frame. The short-term outlook is neutral.
Elliott Waves
Long Term
No changes to the long term prospective. Silver is in the target zone and can trigger a reversal signal any moment now.
Mid Term
This appears to be the final impulsive wave, likely wave C of (B). The structure suggests that wave v of 5 is still missing its final leg—one more push to a higher high.
At this stage, the red path that includes one more higher high holds slightly better odds.
SUMMARY
Several recent failures to print clear continuation candles raise concerns about silver’s technical health. The recent overbought conditions triggered a pullback that has a fair chance to continue. However, the wave down has lacked decisiveness.
Given the uncertainties, silver is neutral in the short term, awaiting a strong directional signal. The mid- and long-term odds remain bullish to neutral-bullish, with trends still tilted upward.
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