WaveTrack International

Elliott Wave Financial Price Forecasting

Silver – probably the biggest opportunity in commodities right now!

by m.tamosauskas| May 21, 2013 | 1 Comment

silver130521

A major liquidation sell-order was received by the major bullion houses in early Asian trading that resulted in silver prices staging a sharp decline in early trading Monday having closed last week at 22.40 with prices tumbling to a low at 20.17.

The low at 20.17 has ‘spiked’ straight into the downside targets that measured to 20.37. The re-action afterwards was an immediate reversal upswing with current levels trading at 21.38. Such action is commonly associated with a reversal, and the fact that it has occurred into the target zone suggests the decline has completed.

Reminder: watch this video that shows the long and medium-term Elliott Wave outlook for WaveTrack’s gold and silver price development forecast. It provides insights to the five wave impulse advance development from the October 2008 lows updating its current location within the trend and explains how recent declines in April 2013 fit into the larger picture.

 (Become an EW-Compass report subscriber (click here) and see how this pattern continues to develop and what’s coming up in the larger time-series).

Category: Gold, Silver

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WaveTrack International is a financial price forecasting company dedicated to the Elliott Wave principle and work of the R.N. Elliott. Clients include Investment Banks, Pension Funds, Total/Absolute-Return/Hedge Funds, Sovereign Wealth Funds, Corporate and Market-Making/Trading institutions and informed individuals -- & just about anyone who is affected by directional price change.

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