Silver to $27 beginning of 2021?
מעודכן
Silver has gained about 1000% in about 8 years from $4 in 2003 to about just under $50 in 2011.
From there Silver retraced 78.6% to about $13.80.
The current recovery has seen a near 40% gain.
Current estimate is that Silver will reach close to $23 by tax time 2020 and then reach further to about $27 in the beginning of 2021.
From there Silver retraced 78.6% to about $13.80.
The current recovery has seen a near 40% gain.
Current estimate is that Silver will reach close to $23 by tax time 2020 and then reach further to about $27 in the beginning of 2021.
הערה
Current short term estimate using Elliott Wave analysisI have tried to label each wave for clarity.
Counting the low from the second touch just under $14 as the start of wave 1.
Placed a channel from the starts of wave 1 and 3 and pulling to the end of wave 1.
Wave 3 broke through the top and wave 4 retraced to sit on the top of the channel
Wave 4 retraced to the terminus of the previous fourth wave of one lesser degree.
Wave 4 (ABC) retraced 50% of wave 3
I do not see silver dropping below $17.
Using Fibonacci extensions for potential Wave 5 targets:
Pulling from wave 1 start to end and third point at the start of wave 4
targets $22.75 at the 1.618% extension
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Last update has a an error:Using Fibonacci extensions for potential Wave 5 targets:
Pulling from wave 1 start to end and third point at the END (not start) of wave 4
targets $22.75 at the 1.618% extension
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Original estimate for wave 5 to end was March 30thwhich is 2.382% extension of wave 1 (start to end) and pulled to start of wave 5
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Alternate Wave 2 labeling as a WXY (?Flat, Any Three Zig Zag?)הערה
The C on the Zig Zag on last image was ment to be where the Y is labeled but didnt replace it during adjustingהערה
Current estimate/hopes for Silverהערה
Thinking we found the end of a wave 4 correction.Wave 5 target around $20.40
Invalidation level is $16.10
הערה
Updated estimateSilver might see one more small move down to about $16.40
I feel that it is currently a time to buy up until the end of the year
which will begin by breaking descending supply/trend line
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YAY Silver breakoutהערה
Silver rejected from the channel median.Estimating a retracement to either $17.70 or $17.40
Leaning more towards $17.40 as its at the 61.8%
I feel we are in wave 2 of 5 and as a wave 2 I usually look for 61.8% or more.
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Forgot to mention the possibility that the 20 ema on the daily chart gives supportהערה
Current thoughtsTrying Gann Fan on Log Scale
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Daily 20 ema seems to have heldWould be suprised if we make a flat
I'll post a chart this weekend
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Long work days so haven't been posting much.We retraced to the 61.8% at around $17.37
Will be watching to see if this level holds
Or if silver falls furthur to the 78.6% level at $17
Expecting some sideways days
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Many incorrect idea'sIf we fall below $16.18 I am selling all my silver
Current thoughts.
Maybe we are still in the correction
Possible Zig-Zag / x / Flat or Triangle? Unsure until we time progresses
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An estimate הערה
Current plan for Silver
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