Timeframe: 3-Hour
Methodology: Elliott Wave – Structural Analysis
Silver is also undergoing a Wave-4 correction within a broader bullish structure.
The corrective advance is best classified as a W–X–Y formation, similar to Gold, but with greater price extension, suggesting Silver may be closer to completion.
Structural Characteristics
Silver’s recent price action displays:
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Persistent overlap between swings
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Controlled movement within a corrective channel
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Absence of impulsive acceleration
These are all classic traits of a corrective Wave-4 environment rather than a trend-resuming impulse.
Momentum & Channel Behavior
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RSI remains elevated but compressed, lacking impulsive expansion
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Price is testing the upper boundary of a corrective channel
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Such channel behavior is common during late-stage Wave-Y development
Historically, these conditions often precede either:
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Sideways consolidation, or
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A corrective pullback completing Wave-4
Key Levels to Monitor
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Upper Resistance Zone: Potential Wave-Y termination area
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Mid-Channel Support: First corrective support on any pullback
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Structural Support: A deeper break would invalidate the current Wave-4 count
As long as the structure holds, the larger bullish trend remains intact.
Outlook
Silver appears more stretched than Gold, implying it may complete Wave-4 sooner.
Once this correction finishes, the market should transition into a Wave-5 impulsive phase, aligning with the broader uptrend.
Patience remains essential until the corrective structure fully resolves.
Elliott Wave focuses on structure and probability, not prediction certainty.
This analysis is for educational and informational purposes only.
It does not constitute investment advice or a recommendation to buy or sell any financial instrument.
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