ELLIOTT
WAVE ON SILVER
Triangle Breakout Is Near
by Dan
Stinson
E-WaveCharts.com
October 25, 2006
Short Term Forecast
Silver appears to
be in a triangle pattern currently in wave (E) down. We should see minor
downside for Silver before a reversal and subsequent breakout to the
upside. The downside could complete as wave (C) down or we could see
further sideways action in wave (E) into the apex of the triangle. Our
Gold, USD, Euro and CAD charts all support the Silver count as they are
close to a reversal as well. We will monitor all of these charts to
forecast a potential bottom in the metals. The recent newsletter for the
USD illustrates a move higher to the 88 area before a reversal. This
advance in an ending diagonal for the USD, so it could actually complete
in the 87-88 area. The chart below illustrates that the corrective
action for Silver since May 2006 is completing as a triangle.
When we see the price action for Silver break above the top horizontal
line on the chart, it will confirm the breakout above the top trendline.
A break below the the lower horizontal lines will be short term bearish
and indicate that a larger WXY corrective pattern is in play.
These charts are only a guide so that you can follow the action and
watch for the expected bottoming action in the triangle. The action
could play out exactly as illustrated or it may need adjustments as we
follow it through. Our charts on the currencies support minor downside
for the metals and we can monitor the action to determine a turning
point.
If you are interested in viewing these updated charts and other detailed
charts with targets on a daily basis, please see the registration
details below.
Elliott Wave
Chart Site - IntraDay Market Updates on the DOW, Nasdaq, S&P500,
Gold, Silver, HUI and the USD.
To learn more on the status of Gold, Silver, HUI and the USD, please
visit the link below for registration details.
The commentary and forecasts are updated daily, including intraday
commentary and chart updates. Fibonacci pivot dates and cycle analysis
are also utilized to forecast reversal dates.
The indices covered include the NASDAQ, DOW, S&P 500,
Nikkei, and DOW Transports. Commodity charts include the CRB Index,
Copper, Crude, Sugar, Wheat, Corn, Soyabeans, Platinum, Palladium, Gold,
Silver, HUI and the XAU (Gold and Silver index).
Additional Elliott Wave charts cover the US
Dollar (USD),(CAD), 10 Year Treasury Note Yield (TNX), Nortel, Ballard
Power, North American Palladium, Placer Dome, Gold Corp, Barrick Gold,
High River Gold, Pan American Silver, Couer D Alene Mines (CDE), Bema
Gold (BGO.TO), Durban Roodeport Deep (DROOY), Newmont Mining (NEM) and
Agnico Eagle Mines (AEM).
Registration
Details
Happy Trading!!!
Dan Stinson
© 2006 Dan Stinson
Editorial
Archive
If you are
interested in viewing these updated charts and other detailed charts
with targets on a daily basis, please see the registration details
below.
Elliott Wave
Chart Site - IntraDay Market Updates on the DOW, Nasdaq, S&P500,
Gold, Silver, HUI and the USD.
To learn more on the status of Gold, Silver, HUI and the USD, please visit the link below for registration details. The commentary and forecasts are updated daily, including intraday commentary and chart updates. Fibonacci pivot dates and cycle analysis are also utilized to forecast reversal dates. The indices covered include the NASDAQ, DOW, S&P 500, Nikkei, and DOW Transports. Commodity charts include the CRB Index, Copper, Crude, Sugar, Wheat, Corn, Soyabeans, Platinum, Palladium, Gold, Silver, HUI and the XAU (Gold and Silver index). Additional Elliott Wave charts cover the US Dollar (USD),(CAD), 10 Year Treasury Note Yield (TNX), Nortel, Ballard Power, North American Palladium, Placer Dome, Gold Corp, Barrick Gold, High River Gold, Pan American Silver, Couer D Alene Mines (CDE), Bema Gold (BGO.TO), Durban Roodeport Deep (DROOY), Newmont Mining (NEM) and Agnico Eagle Mines (AEM).
If you are interested in viewing these updated charts and other detailed charts with targets on a daily basis, please see the registration details here.
Contact Information
Dan Stinson
Elliott Wave Chart Site
Dundas, Ontario, Canada
Email | Website
