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Silver: Corrective Pull-back Within UptrendTop ↑  Our Services (7-day trial) Subscribe to our newsletter Jan 24 2013 Silver has been in the uptrend-mode since start of January and it seems that bullish momentum has started to weaken from 32.45 peak. This however is not a surprise as market completed a fifth wave of a five wave sequence. In Elliott Theory we know that after every five waves correction follows. The interesting thing is that corrections usually starts after a divergence between wave 3 and wave 5 highs like in our case as shown on the MACD. Elliott Wave technicians will also know that corrections are structured minimum by three waves, so traders should be aware of a larger and deeper A-B-C pull-back possibly even back to 31 figure, near 38.2% retracement and Jan 17 swing level. After a completed three wave fall traders should again be on the watch for a bullish turn. .gif) Newsletter archive
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Trading forex, futures, options, stocks, cryptocurrenices or any another trading market carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could lose some or all of your initial investment; therefore you should not invest money that you cannot afford to lose. Our website and the information that we provide should not be relied upon as a substitute for extensive independent research before making your investment decisions. In no event will we be liable for any loss or damage on your account in connection with, the use of our products. For any real cash investments you have to contact your financial advisor.
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