Elliott Wave Counts For Gold, Silver, & USDX
Oct 3, 2018
If that is the case then we have labeled our first impulsive sequence out of the wave ii low as wave $i$, which would have ended at the 1220.70.
We have also now satisfied all of the minimum requirements for a completed wave $ii$ at the 1192.70 low. Our retracement levels for wave $ii$ are:
We will provide an updated projection for the end of wave $iii$ when we are sure that all of wave $ii$ is complete.
Silver was higher early in yesterday’s day session as we reached a high 14.95. We lost some of those gains as the day progressed, but in the overnight session we stabilized and we are currently trading near the 14.75 level.
As you can see on the Daily Silver Chart we have also broken above our major red downtrend line, which is also suggesting higher prices ahead!
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