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Monday, February 3, 2014

Silver - Look for more downside pressure.

Silver

It has been a while since I last did an analysis of silver, you can see it here.

Red wave iv has just peaked at 25.11 and red wave v was taking over and is still ongoing. The first target for red wave v comes in at 17.24, but I would not be surprised to see a continuations lower towards 16.20 before red wave v and wave iii is over. Once wave iii is in place we should see Black wave iv towards 23.19 before the last decline towards 13.00.






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5 comments:

  1. T.MFebruary 4, 2014 at 4:00 AM

    Hi EWS as ever great chart work. Eur/aud and eur/chf short term update pls given your recent pieces thank you

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    Replies
    1. Elliott wave surferFebruary 4, 2014 at 8:53 AM

      Hi T.M,

      I will update the two currency pairs during the day, so keep an eye on the blog.

      Kind regards
      EWS

      Delete
  2. HaiGoFebruary 4, 2014 at 8:49 AM

    Thanks EWS. What about Gold, is it also breaking down (I mean below 1180)?
    HaiGo

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    Replies
    1. Elliott wave surferFebruary 4, 2014 at 8:55 AM

      Hi HaiGo,

      I will update gold during the day, so keep an eye on the blog.

      Yes ultimately we will break below 1,180.

      Kind regards
      EWS

      Delete
  3. T.MFebruary 4, 2014 at 10:24 AM

    Thank you for the update

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