{"id":7070,"date":"2024-11-29T23:12:27","date_gmt":"2024-11-29T23:12:27","guid":{"rendered":"https:\/\/alchemymarkets.com\/?post_type=market_insights&#038;p=7070"},"modified":"2025-05-12T13:17:53","modified_gmt":"2025-05-12T13:17:53","slug":"silver-stuck-in-a-decline","status":"publish","type":"market_insights","link":"https:\/\/alchemymarkets.com\/sv\/education\/market-insights\/elliott-wave\/silver-stuck-in-a-decline\/","title":{"rendered":"Silver Elliott Wave: Stuck in a Decline"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Executive Summary<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The corrective downtrend appears incomplete<\/li>\n\n\n\n<li>Anticipate new lows below $29.67<\/li>\n\n\n\n<li>Once, the decline complete, then we are anticipating new highs above $35 in 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<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"677\" src=\"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2024\/11\/XAGUSD_2024-11-29_17-04-50-1024x677.png\" alt=\"\" class=\"wp-image-7073\" srcset=\"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2024\/11\/XAGUSD_2024-11-29_17-04-50-1024x677.png 1024w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2024\/11\/XAGUSD_2024-11-29_17-04-50-300x198.png 300w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2024\/11\/XAGUSD_2024-11-29_17-04-50-768x508.png 768w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2024\/11\/XAGUSD_2024-11-29_17-04-50.png 1335w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>The current <a href=\"https:\/\/alchemymarkets.com\/education\/guides\/elliott-wave-theory\/\">Elliott wave count<\/a> on a 4-hour price chart for silver is wave b of (ii). This means silver is about halfway through it\u2019s wave (ii) decline. It is quite feasible for silver to rally back to $31.67 to complete wave b (as a flat pattern) or grind sideways for a couple more weeks in wave b (as a triangle).<\/p>\n\n\n\n<p>Once wave b terminates, then the Elliott wave count we are following anticipates another decline in wave c to finalize wave (ii).<\/p>\n\n\n\n<p>The 78.6% <a href=\"https:\/\/alchemymarkets.com\/education\/indicators\/fibonacci-retracement\/\">Fibonacci retracement level<\/a> appears near $28.26, so that is a possible termination zone for wave (ii).<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Bottom Line<\/h2>\n\n\n\n<p>Silver prices are declining in wave (ii) that may reach $28.26. Meanwhile, a rally to $31.67, isn\u2019t necessary, but would be considered normal to finalize wave b of (ii) and set up the wave c of (ii) decline.<\/p>\n\n\n\n<p><strong><em>You May Also Be Interested In:&nbsp;<\/em><\/strong><\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-wp-embed is-provider-alchemy-markets wp-block-embed-alchemy-markets\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"wp-embedded-content\" data-secret=\"4mkEneJK0Q\"><a href=\"https:\/\/alchemymarkets.com\/education\/market-insights\/elliott-wave\/eur-usd-wave-counts-at-odds\/\">EUR\/USD Elliott Wave: Two Counts at Odds; Which Will Win?<\/a><\/blockquote><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; visibility: hidden;\" title=\"&#8220;EUR\/USD Elliott Wave: Two Counts at Odds; Which Will Win?&#8221; &#8212; Alchemy Markets\" src=\"https:\/\/alchemymarkets.com\/education\/market-insights\/elliott-wave\/eur-usd-wave-counts-at-odds\/embed\/#?secret=Ykgua2dCTt#?secret=4mkEneJK0Q\" data-secret=\"4mkEneJK0Q\" width=\"500\" height=\"282\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe>\n<\/div><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>The silver price forecast using Elliott wave is that the decline is incomplete and may reach $28.26.<\/p>\n","protected":false},"author":160,"featured_media":7071,"parent":0,"comment_status":"open","ping_status":"closed","template":"","market_insights_categories":[16],"class_list":["post-7070","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 - 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