SILVER Elliott Wave Technical Analysis – 7th April, 2014

Last analysis expected a little more downwards movement to a target at 19.13 before a trend change. The trend change had already happened at 19.579 and price did not move lower.

Overall the wave count remains the same.

Click on charts to enlarge.

Silver daily 2013

Minor wave B looks like it is unfolding as a regular contracting triangle. Within the triangle minute wave c recently ended as a double zigzag.

This wave count now expects more upwards movement to complete minute wave d as a single zigzag.

Minute wave d may not move beyond the end of minute wave b above 22.224.

When minute wave d is complete then a final wave down for minute wave e would end the triangle. Minute wave e may not move below 19.579.

Overall this wave count expects to see very choppy, overlapping sideways movement for a few weeks yet in an ever decreasing range.

Silver daily 2013

Within minute wave d minuette wave (a) subdivides as a leading expanding diagonal.

Minuette wave (b) is an incomplete zigzag. I would expect to see it move a little lower or sideways before it is done.

Minuette wave (c) should move price higher, beyond the end of minuette wave (a) at 20.235.

At 21.695 minute wave d would reach 80% the length of minute wave c. This is a common wave length for waves within triangles.

Minuette wave (b) may not move below the start of minuette wave (a) at 19.579.

6 thoughts on “SILVER Elliott Wave Technical Analysis – 7th April, 2014

  1. Hi Lara,
    Well I see that triangle definitely did not hold. When you have enough data to be somewhat predictive of Silver’s up/down targets could you please update. Thanks. šŸ™‚

  2. Lara can you give a brief update on your thoughts about silver since we are at 19.45on silver this morning and went thru 19.57?

  3. Hi Lara,
    Please forgive me my ignorant questions… Once the minute wave e is over that concludes minor B wave, yes? Is there another structure that could begin to continue the B wave (I hope not); and, must minor C’s price action remain above the end of the B wave? Thank you for your clarity with this.

    1. Once minute wave e is over then yes, minor wave B must be over.

      A triangle cannot be an A wave of a larger correction, nor can it be the first structure in a multiple (double or triple).

      The only question is… will the triangle hold (remain valid) or will it morph into into a double combination. At this stage it looks like a triangle is forming.

      1. Thank you for the way that you explained this. Now I understand better how to interpret any (potential) invalidation of the triangle.

Comments are closed.