{"id":6259,"date":"2024-10-21T20:40:35","date_gmt":"2024-10-21T20:40:35","guid":{"rendered":"https:\/\/alchemymarkets.com\/?post_type=market_insights&#038;p=6259"},"modified":"2025-05-13T08:14:33","modified_gmt":"2025-05-13T08:14:33","slug":"silver-price-highest-in-12-years","status":"publish","type":"market_insights","link":"https:\/\/alchemymarkets.com\/it\/education\/market-insights\/elliott-wave\/silver-price-highest-in-12-years\/","title":{"rendered":"Silver Reaches Highest Price in 12 Years (Elliott Wave)"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Executive Summary<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Silver has started its 3rd wave advance<\/li>\n\n\n\n<li>Dips are likely to be temporary<\/li>\n\n\n\n<li>Silver prices should remain above $30.12 under this model and possibly reach $39-40 in wave (iii) over the coming months<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Current Elliott Wave Count for Silver Price<\/h2>\n\n\n\n<p>The current Elliott wave count on a 4-hour price chart for silver is wave iii of (iii). This means silver is about halfway through wave (iii) that began September 6 at a price of $27.68.<\/p>\n\n\n\n<p>By the time wave (iii) is finalised, silver could be near $39-40.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-rt.googleusercontent.com\/docsz\/AD_4nXeqEbDyrUeSfEqHaaPGErts5BG7T9gFDlQf-IGRjVIZDfoPqSK1mvCMDEV6L7cxgZ3K8s7M3SM4FJM6Y765YT0QR21H5e2GUyU9MZsISYf6Fdvg9LvOSVJOZmZOSN45GeIIrWEVpUMWrjY5baWZ5EId20tu?key=Y_Vd3xhezXUZ84JNInIC0w\" alt=\"\" \/><\/figure>\n\n\n\n<p>We know from our Elliott wave studies that a third wave must be an impulse pattern. Since we estimate the current position of wave iii of (iii), then after a small dip in wave iv, then, another rally in wave v of (iii) should carry to fresh highs approaching $39-40.<\/p>\n\n\n\n<p>If any small correction develops, it will likely hold above $32.75, the upper boundary of a parallel channel.<\/p>\n\n\n\n<p>This strong rally in the price of silver has been forecasted going back to our Q3 2024 report when silver was trading near $29.<\/p>\n\n\n\n<p>Our <a href=\"https:\/\/alchemymarkets.com\/education\/market-insights\/elliott-wave\/silver-shine-in-the-spotlight\/\">latest forecast<\/a> was shared on September 30 calling for a dip to $30.55-$30.79 and possibly as low as $29.48-$29.70. Silver prices bottomed at $30.12 on October 8. That dip would be wave ii of (iii) and lead to the strong bullish rally we are witnessing now.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Bottom Line<\/h2>\n\n\n\n<p>Silver is rallying in wave iii of (iii). This rally is anticipated to carry up to $39-40 to finish wave (iii). Once wave (iii) is complete, then a mild correction lower would begin for wave (iv).<\/p>\n\n\n\n<p>This forecast would remain valid so long as silver holds above $27.69.<\/p>\n\n\n\n<p><strong><em>You May Also Be Interested In:&nbsp;<\/em><\/strong><\/p>\n\n\n\n<p><a href=\"https:\/\/alchemymarkets.com\/education\/market-insights\/elliott-wave\/usd-jpy-nears-the-top-the-hill\/\">USD\/JPY Nears the Top of the Hill (Elliott Wave)<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/alchemymarkets.com\/education\/market-insights\/elliott-wave\/usd-chf-steady-downward-path\/\">USD\/CHF on a Steady Path (Elliott Wave)<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Silver prices have reached their highest level in 12 years. See what trends are expected using Elliott Wave as our guide.<\/p>\n","protected":false},"author":160,"featured_media":6260,"parent":0,"comment_status":"open","ping_status":"closed","template":"","market_insights_categories":[16],"class_list":["post-6259","market_insights","type-market_insights","status-publish","has-post-thumbnail","hentry","market_insights_categories-elliott-wave"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Silver Reaches Highest Price in 12 Years (Elliott Wave) - Alchemy Markets<\/title>\n<meta name=\"description\" content=\"The Elliott wave analysis on silver prices suggests a continued rally after reaching a 12 year high.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/alchemymarkets.com\/it\/education\/market-insights\/elliott-wave\/silver-price-highest-in-12-years\/\" \/>\n<meta property=\"og:locale\" content=\"it_IT\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Silver Reaches Highest Price in 12 Years (Elliott Wave) - 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