Last Risk Potential In Silver


I posted earlier in the trading room that I am getting many questions as to when we can finally get rid of the alternative yellow (b) wave.  And, unfortunately, it is not until we get that break out through 33.52.  

For now, the bulls still remain in charge, and I would like to see the continued action in the green count over the coming days to point us north of 33.52, which will then make it highly likely we are on our way to 40+ in a more direct fashion.

However, if the market begins to provide us with a 5-wave decline structure from this region,  I will have to move into the alternative count for a larger a-b-c in wave 2, which will confirm below 30, and point us down to the 26-27 region for a (c) wave of 2. 

So, I still cannot completely rule out the yellow (b) wave just yet.

silver-8min
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silver-144min
silver-144min
Avi Gilburt is founder of ElliottWaveTrader.net.


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