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Silver (XAG) Short-Term Elliott Wave Analysis – July 1st, 2015

Published 06/30/2015, 08:11 PM
Updated 03/09/2019, 08:30 AM

Decline from wave X at 16.46 is unfolding in double correction (w)-(x)-(y), where wave (w) ended at 15.5, wave (x) ended at 16.05, and wave (y) is in progress towards 14.85 – 15.08. In our Chart of The Day 6.30.2015, we said the internal of wave (y) is also taking the form of a double corrective structure w-x-y, where wave w is in progress towards 15.31 -15.45, then it should bounce in wave x before the decline resumes.

Current Elliott Wave view suggests that wave w has ended at 15.46 and wave x has ended at 15.88. As far as 16.46 pivot stays intact, expect silver (XAG) to continue the decline lower.
XAG Elliot Wave Analysis Chart

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