Elliott Wave Analysis: Silver Undegoing A Temporary Correction
Gregor Horvat | Oct 19, 2016 10:08AM ET
Silver broke beneath 18.30 level, but higher degree charts still show three waves of a decline from above 21.00 area. It's a correction within ongoing uptrend that will be expected to resume later this year. But for now, 4h chart shows that current wave C may resume towards the 16.70 area after a fourth wave bounce, before metal may look for a bullish turn. Short-term resistance is seen at 18.00.
SILVER, 4H
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