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Outlook For Silver: Wave III Looking Stronger Than Expected

Published 02/24/2015, 12:37 AM
Updated 07/09/2023, 06:31 AM

INTRADAY CHART

XAGH Chart

24th February:

The Wave iii was a little stronger than expected, reaching the Wave c to reach the 238.2% projection at 16.08. From there a correction back to 16.59 has been seen - being a 33.3% retracement in Wave iv. Allow for the 38.2% at 16.68. This should now seea move lower in Wave v to the Wave [iii] targets. With the Wave iii deeper the Wave v must reach the 15.92 area at least - that's the 238.2% projection. I suspect this may hold, but allow for the 261.8% projection at 15.69.

With Wave [ii] being 69.5% the Wave [iv] should be around 14.6% - 23.6% before heading down in Wave [v] towards the 15.00-20 area (+/-). This should form Wave -a- and see a correction in Wave -b-.

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