# SILVER Elliott Wave Technical Analysis – 18th November, 2014

Summary: I expect upwards movement to about 18.812.

Click on charts to enlarge.

This wave count is changed from last publication. If minor wave 1 was over lower and more recently, then it has a better fit.

Ratios within minor wave 1 are: minute wave iii is 0.81 longer than 4.236 the length of minute wave i, and minute wave v is just 0.04 longer than 0.618 the length of minute wave iii.

Minute wave iii has the strongest downwards momentum. Minute wave v ends with an overshoot of the Elliott channel. This impulse has a typical look.

Minor wave 2 is most likely to reach up to the 0.618 Fibonacci ratio of minor wave 1 about 18.812. Minor wave 1 lasted 86 days, just three short of a Fibonacci 89. Minor wave 2 may total a Fibonacci 34 or 55 days. So far it has lasted seven days.

## 4 thoughts on “SILVER Elliott Wave Technical Analysis – 18th November, 2014”

1. victor says:

Hi Lara.

Quote: “Minor wave 2 is most likely to reach up to the 0.618 Fibonacci ratio of minor wave 1 about 18.812. .. . … … .”
My calculation of this 0.618 x wave 1 is 19.081.
(wave 1 = 21.579 -> 15.040??).
The difference doesn’t quite matter, but am I missing something here?
Thanks

1. Well spotted Victor.

I noticed the difference. I did the calculation manually and came to the same conclusion you have (except I have the low at 15.067). The problem is Motive Wave and what its doing with Fibonacci retracements. I think its wrong, but as you say the difference is not great enough to matter too much.

Its annoying though. But I had to let it go and move on.

To make it worse… I noticed a difference when I put the same Fibonacci retracement on the same high – low on the daily chart and the hourly chart. Ugh.

I’m letting that one go. There are more important things to worry about.

1. victor says:

Okay, Lara.
And thank you.

2. Johno says:

Hi Lara,
During the next few months you expect Cycle wave b to commence in both silver and gold. Given the propensity of both to display expanded flat type corrections, would you think it likely that Cycle wave b would move well into new high territory. I could certainly imagine that there would be a cruel ending to gold bug dreams in the shape of Cycle wave c.