The Fed Blinks: Key Elliott Wave Counts In Play
Nov 29, 2018
What a day! This is incredible! We called it with our wave counts, and now it’s really happening as the Fed may have just blinked!
Within wave .iii. we are now working on our first impulsive sequence, as shown on our “Daily Gold Chart”.
Within that first impulsive sequence we believe that we are working on a subdividing wave $iii$. Within wave $iii$, wave !i! ended at the 1246.00 high and all of wave !ii! at 1196.60.
We are now rallying in wave !iii!, which has an initial target of:
Our retracement levels for the end of wave ?ii? were:
Our report card on that call: Bingo!
In the very short term, silver has been correcting the rally from 13.86 to 14.54. Silver could be ready to move higher again quite soon.
In the initial stages of wave .iii.
Silver will accelerate higher (and perhaps quite dramatically) with gold once the 95.93 low in the USDX gives way.
We also need to break above our red downtrend line that is shown on the Daily Silver Chart that connects 17.35 and 14.92.
If that is the case then we should now be moving higher in wave ^iii^, as the next big event in this market.
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