Silver Found Intraday Buyers At The Equal Legs Area

Hello fellow traders. In this article we’re going to take a quick look at the Elliott Wave charts of Silver, published in members area of the website.  As our members know Silver has recently made a short term 3 waves pull back that has reached its target area and found buyers.  In the further text we are going to explain the Elliott Wave Forecast.Silver 1 Hour Elliott Wave Analysis 11.20.2019Silver ended cycle from the 21.85 low as 5 waves structure, labeled as wave 1 red. Currently doing wave 2 red pull back which is showing incomplete structure. Lower low sequences from the peak suggests we are still in ((c)) leg which should ideally give us more weakness toward 23.21-22.84 area. At that area we expect buyers to appear  for proposed rally or 3 wave bounce alternatively. Although we expect to see another marginal push down, we advise members to avoid selling against the main bullish trend. We favor the long side from the marked equal legs area. As our members know, Equal Legs are no enemy areas , giving us 85% chance to get a bounce.  Silver 1 Hour Elliott Wave Analysis 11.21.2019Pull back completed right at equal legs zone at 23.21-22.84 . Silver found buyers at the marked zone and we are getting good reaction from there. Rally from the buyers zone reached 50fibs against the ((b)) high, so any longs should be risk free by now.  We count Wave 2 red pull back completed at the 23.25 low. Alternatively if that level gets broken, Silver can make deeper pull back toward 22.92-22.71 area.Keep in mind that market is dynamic and presented view could have changed in the mean time. You can check most recent charts with target levels in the membership area of the site. Best instruments to trade are those having incomplete bullish or bearish swings sequences.  More By This Author:Travelers Looks Like Will Make A Double Correction Lower.Constellation Energy (CEG) Riding the Renewable Energy Bullish WaveBitcoin BTCUSD Buying The Dips At The Blue Box Area


  • Total Score 0%
User rating: 0.00% ( 0
votes )

Leave a Reply

Your email address will not be published. Required fields are marked *