Trust Amplify Junior Silver Miners ETF – SILJ (1D) Elliott Wave Technical Analysis
Daily Chart

Function: Major Trend
Mode: Motive
Structure: Impulse
Position: Wave [iii] Navy
Direction: Rally
Details:

Wave 3 is close to entering the most powerful part of the impulse: the third of a third of a third wave.

This move will follow after the completion of the current wave (ii) retracement. A final three-wave correction to the downside is expected to finish wave (ii).

Once wave (ii) ends, a strong rally surpassing the $15.17 high should begin.
Invalidation Level: $11.57

Trust Amplify Junior Silver Miners ETF – SILJ (4H) Elliott Wave Technical Analysis
Hourly Chart

Function: Major Trend (Minor Degree, Grey)
Mode: Motive
Structure: Impulse
Position: Wave (iii) of [iii]
Direction: Uptrend
Details:

SILJ has now entered the most anticipated stage of the rally.

The current move is expected to be strong and nearly vertical in behavior.

Wave (iii) should easily surpass the $14.50 high and continue moving higher.

Entry points and stop-loss levels are provided on the chart.
Invalidation Level: $11.58

Conclusion

The Elliott Wave analysis summary for SILJ is:

SILJ continues its rally and the uptrend is now mature.

This point is crucial for traders aiming to move with the trend, not against it.

The $11.58 level remains the key invalidation point for the bullish scenario.

Following Elliott Wave principles and monitoring invalidation levels are essential steps to manage trading risks effectively.

Technical Analyst: Simon Brooks

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