Silver Path Ahead · Investor Edge Club

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Silver Path Ahead

Date: 21/06

Since making its all time highs on 29th Jan (121) silver has entered into a complex WXYXZ correction. This structure is actually even more complex than the WXY we studied on the Gold chart. This correction indicates a triple correction taking place. Even though this structure doesn't surface often, it does arise when a particular asset has an extremely strong and fast previous impulse. Very similar to what silver has demonstrated to reach its all time high.

Towards the end of October 25 - Silver was trading at around $45 -- By Jan 26 it was at 120. The price tripled in 3 months. This kind of an up move is almost always followed by a long complex correction which slowly drags us more than 50% back down from the high recently created.

I've marked the various ABC correctives forming the larger WXYXZ corrective in the image below. WE are in the advance stages of the correction with only the final leg of wave Z remaining. Even though we may still have a bit of the correction to follow - silver is an asset we must keep an eye on as the next impulse promises to be strong and take us back past the all time high set around 120

Image below

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Silver Path Ahead