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Commodities

Silver – Road Map

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Open Articles Public Silver Weekly
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Silver has already taken a heavy hit—down more than 40%—but the next move could be even more important than the drop itself. With key technical signals beginning to align, the metal is approaching a point where direction may soon be defined.

Let’s take a closer look at the latest developments and outline what they could mean for silver’s next major move.

Elliott Waves

Short Term

Silver made a big mistake today – it invalidated a possible impulse up, most likely completing wave iv of C. The road map, outlined in the weekly report, remains unchanged.

Candles

In the candlestick department, silver failed to secure a bottom on the daily frame and instead formed an Advance Block, which could be setting up for an F3M. Bulls also failed on the 2D and 3D, and there is a strong chance of a bearish continuation combo into the weekly close.

It is also highly likely that gold fails to develop an impulse and resumes the move lower, invalidating the fragile bullish setup from yesterday.

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Open Articles Public Silver Weekly
623
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