MCX Silver: Wave v on the way Elliott Wave forecast

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MCX Silver Fut Daily contract


MCX Silver is showing resilience from the lower levels. many thought that the trend was changed but if you compare the hart of MCX Gold with MCX Silver, Gold is at all time high but silver has not crossed its previous high. It is difficult to say if it will cross its previous high or not but it is easy to forecast that its previous high will be crossed.

From Wave perspective I have used combination of Elliott and Neo wave and came to a conclusion that prices are moving in a (a-b-c) pattern. In which at present prices are moving in wave c. In wave c which is an impulse wave prices have completed wave iv and is now set to move up in the form of wave v. This wave v can terminate near till 53000-53100 levels which is 61.8 of wave i-wave iii-wave iv.

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Comments

Phani Kumar said…
Hey, thanks for the information. your posts are informative and useful. I am regularly following your posts.
AB Infra build IPO

6 July 2020 at 15:59
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