Silver Elliott Wave Technical Analysis – 8th October, 2013

Last analysis was invalidated with movement above 22.139. The wave count has necessarily changed.

Click on the charts below to enlarge.

Silver daily 2013

A downwards zigzag is unfolding at primary wave degree. Within the zigzag intermediate wave (A) is complete. Intermediate wave (B) is an incomplete zigzag.

Minor wave B is an incomplete double zigzag. Within the second zigzag minuette wave (c) is incomplete.

Minor wave B may not move beyond the start of minor wave A. This wave count is invalidated with movement below 18.215.

Silver hourly 2013

Upwards movement was minuette wave (b) extending higher. At this stage it is not confirmed as complete. I want to see a clear channel breach and movement below 22.114 before I have confidence in a trend change. At that stage I will calculate a downwards target for minuette wave (c).

Minuette wave (b) may not move beyond the start of minuette wave (a) within this zigzag. This wave count is invalidated with movement above 23.417.

7 thoughts on “Silver Elliott Wave Technical Analysis – 8th October, 2013

  1. Well, oops. I just watched your video post for the Gold analysis 10/18/13 and I think your comments on Silver were very helpful and may have just answered my concerns about the recent Silver price movements.
    (But still, I can hardly wait for your Silver analysis post)
    Looking forward to it!

  2. Hello Lara, Hope all is well with you.
    Wondering about the 20.51 low of 10/15/13.
    Could you please update us on where we are with MINUTE wave Y and MINOR wave B ending?
    That particular timing would be much appreciated on my end.

  3. Lara, have you calculated a downwards target for minuette wave (c) yet?
    Would be useful to know ASAP.
    Thanks

    1. There’s not much point until minuette waves (iii) and (iv) are over. At 1,171 minute wave c would reach 2.618 the length of minute wave a.

      The reason why I don’t want to use this target at this stage is ratios between a and c waves are not as reliable as ratios within impulses between the first, third and fifth wave. It is most accurate to calculate the target at minuette wave degree, and I cannot do that until minuette wave (iv) is completed. If there is no ratio between minuette waves (iii) and (i) then there will be a very good probability that we should see a ratio for the fifth wave. If there is a ratio between minuette waves (iii) and (i) then the target would be better calculated at minute wave degree so it would be 1,171.

      I hope this makes sense!

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