Silver May Resume Its Uptrend

5월 7일

Silver may resume its uptrend after recent corrective decline from technical point of view and by Elliott wave theory.

We have been talking a lot about bullish metals in the past months and they may easily stay in the uptrend, especially now when bonds across the globe are recovering away from the supports.
We have seen some slow down on silver recently, but we believe it's just a corrective setback within ongoing bullish trend, as we see an unfinished five-wave bullish cycle.

If we take a look at silver from Elliott wave perspective, we can see a nice three-wave A-B-C correction, which can belong to a higher degree wave 4, so soon be aware of a bullish resumption back to highs within 5 wave.