BIG UPSIDE RALLY CAN POSSIBLE IN SILVER UPTO $29 - $33 IN MARCH

Feb 5, 2023

As per Elliott Wave Analysis, Big upside rally can possible in SILVER. On daily timeframe, waves 1,2,3 & 4 are completed. Wave 2 retraced more than 61.8% of wave 1 & shows Irregular Correction. Wave 4 retraced 38.2% of Wave 3 & shows Complex Correction ( Triple Zigzag Correction). Wave 3 is extended wave. Now, regular targets of 5th wave shall be $25.16, $25.95 & $27. But, 5th wave having potential to make overall structure of "Double Extension Impulse Pattern". If 5th wave makes overall structure of "Double Extension Impulse pattern" then the targets shall be very high upto $29.47 or $33 & these targets should come till March month end. This might sounds irrational at this time but it can happen according to Elliott Wave Analysis.