Silver spot XAG/USD

Rip van Silver fell out of bed during a seismic event and no sooner awakened from its extended coma than it got rediscovered by a dopey punter. From the gutter to stardom just like that fairy-tale story.

gravem somno

Artists impression

Silver lost its precious status and was thrown into the basement with the base metals, but necessity has dictated that it can now be precious once again.

Silver, Copper, Gold weekly

Silver has been attacked and driven to a lower low that extends the Cycle degree low of 2016. This indicates abnormal forces at play once again in this rigged and corrupted market. 

Silver (spot), XAG/USD (updated)

Update: 13th Sept:

The daily chart for this bull trend shows the end point of the resources cycle degree correction at II.

Primary wave [1] involved small Intermediate (1) and (2) waves with an extended Intermediate 5th. Primary wave [2] was heavily extended. Primary wave [3] approaches one year duration as it produces a sharp Intermediate wave (4) for alternation with wave (2) which it approximates for size.

The 4-hourly chart gets an appropriate review..

From 10th Sept:

This 4-hourly chart for the spot price of Silver sees this correction as Minute wave [iv] of Minor wave 3 of Intermediate wave (3) of Primary wave [3]. This correction is already well done with some burnt fingers appearing here and there. The chart for Gold has much the same pattern and wave count.