Sunday, April 27, 2008
Elliott wave 5 ready to go?????
Elliott Wave suggests a final wave 5 up for silver and hence analysts suggest this is only the preceding wave 4 correction. That may well be but the problem is that is a pretty big wave 4 correction in price and time. However, the wave 2 top of November 17th at $16.20 has not been breached (barely) so theoretically another final move up cannot be discounted (though one suspects that heavy selling will be encountered at or near the high of $21).