Elliott Wave Analysis: SILVER Is Finishing Expanded Flat

OANDA:XAGUSD   Silver / U.S. Dollar
Hello traders and investors!

Today we will talk about silver , its price action from technical point of view and wave structure from Elliott Wave perspective.

Well, we are tracking two different interpretations on silver , but what is interesting is that both scenarios are bullish . This is definitely very important for investors, while traders should be patient.

As you can see, we are tracking a big A-B-C irregular expanded flat correction , where wave C looks to be ending diagonal ( wedge ) pattern, the only question is either wave C is finished or still in progress.

Now that silver is trading at September highs, we still have to be aware of a retest of September lows and 21-20 support area , but any strong continuation higher towards 26 area would be definitely signal that ending diagonal within wave C is completed and bulls back in the game.

All the best!
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