The SPX has found support at the base channel near 4450 as part of wave 3 of an expanding wave flat C after falling c. 3.5% from its high yesterday. Wave 5 seems incomplete.
The prices of OIL have lost some 5% as well since Thursday’s high at $87.70, however, the downside move looks corrective despite registering a multiyear high.
Silver made a decent attempt to move higher and reached a 2-month high at $24.70 as risk reverses. Having soared over 15% since December, can it hold its gains or end lower in a diagonal pattern?
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Daily Elliott Wave Forecast: SPX500, WTI, SILVER
The SPX has found support at the base channel near 4450 as part of wave 3 of an expanding wave flat C after falling c. 3.5% from its high yesterday. Wave 5 seems incomplete.
The prices of OIL have lost some 5% as well since Thursday’s high at $87.70, however, the downside move looks corrective despite registering a multiyear high.
Silver made a decent attempt to move higher and reached a 2-month high at $24.70 as risk reverses. Having soared over 15% since December, can it hold its gains or end lower in a diagonal pattern?
Trade with an award-winning broker! Lowest spreads on the market for Forex, Precious Metals, Energies. No re-quotes, no rejection of orders & instant withdrawals.
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