Silver - possible five wave structure

Looking at the price of silver we may spot a possible five wave structure. The structure is known from the Elliott wave theory and could lead to a possible correction. However, to create a possible corrective structure, the market should break the line drawn through the bottoms.

The next possible resistance is set at 19,65 USD and the possible support is located at 17,00 USD.

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Daniel Kostecki, Chief Analyst Conotoxia Ltd.

Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.

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