Today, I would like to compare 2-year charts for Silver and Silver Wheaton (SLW) - whose Elliott Wave counts show Wave 4/Wave (4) consolidations complete as of this summer.
My counts for both also show that Wave (i) for Silver and Wave (1) for Silver Wheaton have been set at the most recent highs in September/October and that we are now working on establishing their respective Wave (ii), Wave (2) lows.
My premise with Silver is that the Wave (ii) low will likely occur within the next month when it falls to test the declining green support trendline.
+TRIANGLE.png)
My premise with SLW, below, is that we see an attack on the red resistance trendline in the coming days... fail to breach that resistance level... and then fall (along with Silver) to test the green support trendline (and the 200-day moving average) near $32, in January.
My counts for both also show that Wave (i) for Silver and Wave (1) for Silver Wheaton have been set at the most recent highs in September/October and that we are now working on establishing their respective Wave (ii), Wave (2) lows.
My premise with Silver is that the Wave (ii) low will likely occur within the next month when it falls to test the declining green support trendline.
+TRIANGLE.png)
My premise with SLW, below, is that we see an attack on the red resistance trendline in the coming days... fail to breach that resistance level... and then fall (along with Silver) to test the green support trendline (and the 200-day moving average) near $32, in January.
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