SILVER Elliott Wave Technical Analysis – 29th January, 2014 | Elliott …

At the daily chart level it looks like minute wave ii is incomplete and found resistance at the upper edge of the channel.

I would expect a little more downwards movement overall to complete an ending contracting diagonal, which should be followed by overall upwards movement. The target for downwards movement to end is just below 19.327. Downwards movement should not breach 18.585.

When there is a full daily candlestick above the channel and not touching the upper trend line then I would have confidence in a trend change.

Click on the chart below to enlarge.

Continue reading: 

SILVER Elliott Wave Technical Analysis – 29th January, 2014 | Elliott …

See which stocks are being affected by Social Media