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Silver: Elliott Wave Counts 7th Nov 2017

|Includes: iShares Silver Trust ETF (SLV)

Summary

Silver has been in a corrective mode for a few weeks and that has confused many, including Elliott Wavers.

However, I believe that the trend is still down on the bigger picture and managed to count the waves as such.

The next wave should be down in a 3rd wave fashion.

Risk management wise, set your stop above the recent 2 wave (according to my chart).

I am presenting the below chart on my Elliott Wave counts for Silver. I know that it has been long since I updated anything here. I will try to be more consistent.

Silver Daily Elliott wave counts 7th Nov 2017

Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.