Russia-United States Tensions Rise on Bad Moon
Tension with Russia and United States is growing over Ukraine's Crimea region. Recently the European Union and United States slapped sanctions on Russian lawmakers and businessmen; Russia responded with its own list of sanctions against a number of U.S. lawmakers and officials. Wealthy individuals are starting to look for a safe place to stock away money, and gold-silver is looking like the correct option after the recent Mt. Gox Bitcoin market closure.
Off the Charts -
Elliott Wave - The long awaited retracement is over for silver. It's been nearly one month since we peaked in silver. By my count silver previous wave 3 of 5 had a wave extension, topping out at $22.18. Since the topping of silver, I've counted corrective wave counts 5-3-5 / A-B-C zig-zag pattern, and I'm certain our correction is over. You can zoom-in on this chart, and follow the Elliott Wave counts. For the larger picture with silver, I have a wave (5) 3 truncated. co-author Quyen Nguyen
Chart Pattern - Notable chart pattern is the Double Bottom adam-eve pattern. The Double Bottom pattern pictured here has a unique pullback to the previous shelf support, which is also the .618 retracement. .618 is often the support of a Wave 1 to Wave 2 ending retracement, with rare occasions the pullback reaches .786 or even .886.
Fibonacci Extension/Retracement Confluence -
SLV - 19.48, 20.61 22.53 , 24.92, 27.15, 27.95
XAGUSD - 19.87, 20.61, 23.11, 25.85, 29.53
Planetary Analysis -
Silver has always had a unique relationship with moon phases, Summer-Spring Solstices, Spring-Fall Equinoxes, Apogee (Moon furthest from Earth) -Perigee (Moon closest to Earth), and Solar or Lunar Eclipses. The moon reached a full moon on March 16th, Spring Equinox was March 20th, Perigee on the March 27th and a new moon on March 31st.
For the month of April, the moon reaches Apogee April 8th, Full Lunar Eclipse Moon on April 15th, and Perigee on April 23rd ending the month with a partial Solar Eclipse on April 29th.
Also notable is Pluto-Neptune retrogrades, which often mark pivot low/high breakouts in gold-silver. In April Pluto turns retrograde on April 14th through September 23. Neptune turns retrograde On June 9th Neptune turns retrograde through November 16th.
Off the Charts -
Elliott Wave - The long awaited retracement is over for silver. It's been nearly one month since we peaked in silver. By my count silver previous wave 3 of 5 had a wave extension, topping out at $22.18. Since the topping of silver, I've counted corrective wave counts 5-3-5 / A-B-C zig-zag pattern, and I'm certain our correction is over. You can zoom-in on this chart, and follow the Elliott Wave counts. For the larger picture with silver, I have a wave (5) 3 truncated. co-author Quyen Nguyen
Chart Pattern - Notable chart pattern is the Double Bottom adam-eve pattern. The Double Bottom pattern pictured here has a unique pullback to the previous shelf support, which is also the .618 retracement. .618 is often the support of a Wave 1 to Wave 2 ending retracement, with rare occasions the pullback reaches .786 or even .886.
Fibonacci Extension/Retracement Confluence -
SLV - 19.48, 20.61 22.53 , 24.92, 27.15, 27.95
XAGUSD - 19.87, 20.61, 23.11, 25.85, 29.53
Planetary Analysis -
Silver has always had a unique relationship with moon phases, Summer-Spring Solstices, Spring-Fall Equinoxes, Apogee (Moon furthest from Earth) -Perigee (Moon closest to Earth), and Solar or Lunar Eclipses. The moon reached a full moon on March 16th, Spring Equinox was March 20th, Perigee on the March 27th and a new moon on March 31st.
For the month of April, the moon reaches Apogee April 8th, Full Lunar Eclipse Moon on April 15th, and Perigee on April 23rd ending the month with a partial Solar Eclipse on April 29th.
Also notable is Pluto-Neptune retrogrades, which often mark pivot low/high breakouts in gold-silver. In April Pluto turns retrograde on April 14th through September 23. Neptune turns retrograde On June 9th Neptune turns retrograde through November 16th.