Silver short term outllook

Gold prices show weakness
March 26, 2013
DOW short term Elliott wave count
March 28, 2013

Is the downward trend in SILVER over? The recent sideways movement in Silver is more probable to be corrective than a start of a new upward move.

silver

Silver is most probably going to start soon another leg downwards towards 27. Our members received last Friday the following sample from our newsletter:

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If support shown in the above chart, is broken downwards then prices will make new lows towards 27$. This is our most probable scenario as there is no clear upward move. Nevertheless, the longer term Elliott wave count makes us expect a wave E bottom soon. We will not go long based just on that. We would first want to see resistance levels broken and upward moves. Until then we are downward biased in Silver trades.More details and technical analysis on Silver for our subscribers.

If you need help trading SILVER don’t hesitate to contact us. You can even try us for one week free.

As always, thank you for taking the time to catch up on my thinking.

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Alexandros Yfantis
Alexandros Yfantis
Fascinated by financial markets, studied International Securities Investment and Banking in the UK, works as a Portfolio Manager in Greece and runs a technical analysis website. Enjoys travelling and spending time with his family and preparing for the black belt in Korean Karate.