FX:XAGUSD   Silver / U.S. Dollar
125 2 4
Silver             got a bit frisky in AH over the long weekend. The spike high was either all of my wave ( iii             ), or a powerful extension in a 5th of iii             of ( iii             ). MACD is confirming a 3rd of some degree in minor wave 3. Below 19.00 and I'll need to relook at the subdivisions in this Elliott Wave structure. Over "Support" the bullish case is still strong.
nick I am confused a little, so what is the next target :)
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The box over 21. Remember, metals can see strong extensions in the impulsive 3rd and especially 5th waves. These are my minimum target expectations. This weekend's rally already exceeded my initial targets for wave iii. Either it's farther along than I thought - having completed wave (iii) - or silver is going to continue to extend beyond my targets. Breaking below 19 will be a warning to re-look / re-group.
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