Silver Elliott Wave Analysis – Trading Lounge Overview

Silver is currently in a corrective phase following its strong upward movement that began on April 6, 2025. This pullback is nearing the extreme zone, suggesting it could be close to completion. Once confirmed, this may present a new buying opportunity in line with the broader long-term bullish trend.

Silver – Long-Term Daily Chart Analysis

Silver is trailing behind Gold in its recent performance. While Gold has hit multiple all-time highs in a short span, Silver has yet to reclaim its April 2011 peak at $48.3.

The current bullish cycle began in March 2020 and remains incomplete. After surpassing the highs from January 2021, the next target is the $35–$36 range before a significant correction. Since this level has not yet been reached, buyers may look to enter during dips.

The daily chart indicates that wave IV concluded in April 2025 near its extreme, prompting renewed buying. A bullish impulse wave formed wave (1), and the market is now correcting in wave (2) via a double zigzag pattern. This correction phase could again attract buyers.

Silver – H4 Chart Analysis

On the 4-hour chart, the completed wave (1) is confirmed as an impulse with clear sub-division. The correction in wave (2) is developing into a double zigzag.

The projected pullback zone lies between $31.21 and $30.42, where buyers may re-enter. However, a stop-loss for any long position should be set below $28.29, in case the correction extends past the expected zone.

Technical Analyst: [Anonymous]

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