Is Silver in the middle of a extended Wave (5)?
What Is a Wave 5 Extension?
When both Wave 1 and Wave 3 have moved in a fairly standard fashion, traders often expect Wave 5 to be where we see the extension. Wave 5 extensions in commodities occur when the final leg of a price movement stretches out longer than anticipated. These tend to happen because momentum lags, but optimism still remains high, particularly among retail traders who are often late to the party.
The current graph of Silver is a perfect Elliott Wave impulse, that will be used in the history books.
Are we correct in predicting that there is a high change that Wave 5 extends? That it could be between 100% up to162% of Wave 1, projected from Wave 4.
Will Silver go to 34.32 - 42.54 before the end of the year?
When both Wave 1 and Wave 3 have moved in a fairly standard fashion, traders often expect Wave 5 to be where we see the extension. Wave 5 extensions in commodities occur when the final leg of a price movement stretches out longer than anticipated. These tend to happen because momentum lags, but optimism still remains high, particularly among retail traders who are often late to the party.
The current graph of Silver is a perfect Elliott Wave impulse, that will be used in the history books.
Are we correct in predicting that there is a high change that Wave 5 extends? That it could be between 100% up to162% of Wave 1, projected from Wave 4.
Will Silver go to 34.32 - 42.54 before the end of the year?
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