Elliott wave analysis of Silver for November 1, 2021

analytics617f78dc9c7d4.jpg

Silver should see a temporary set-back to support at 22.73 to complete the right should of a S/H/S bottom. Once this right should bottoms near 22.73, we should see a strong rally back to the neck-line resistance at 24.87 and above here will confirm that silver has seen a long-term bottom for the next rally to 30.00 and ultimately higher to the all-time high at 50 and likely above too, but for now we will be looking for the corrective dip to 22.73 and then higher again.

The material has been provided by InstaForex Company - www.instaforex.com

from RobotFX
- Need a custom expert advisor?
- Try the Complex Trader EA.

Share this:

Forward
Backward