The rock band âTenacious Dâ consisting of Jack Black and Kyle Gass must soon face competition, namely from âTenacious Bâ. The bears on the silver market have rightfully earned this name by perseveringly dragging silver further down despite recurrent countermovement. The expression âto bear upâ doesnât exist for nothing, after all! We expect the bears to keep going and to lead silver below the support at $21.98 and into the lower orange zone between $21.39 and $20.27, where wave iii in orange should end. The following countermovement in wave iv in orange into the upper orange zone between $22.90 and $23.52 should serve as a booster for the greater downwards movement, which should then continue below $21.98.
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đ Free daily market insights combining macro + Elliott Wave analysis
đ Spot trends early with momentum, sentiment & price structure
đ Join thousands trading smarter - full free analyses at dailymarketupdate.com
đ Spot trends early with momentum, sentiment & price structure
đ Join thousands trading smarter - full free analyses at dailymarketupdate.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.