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The Silver Report

Date: 11 Nov 2010 Contact us


Phone 080-267999329, 080-26697005
The rally in the commodity market is lead by silver from last 10 weeks. Everyone is curious to
trade silver because of explosive price action at multiyear high price range. Whether to buy
silver at current price action or to wait for the correction. Here’s the long, medium and short
term wave counts that may assist us to take wise call on white metal.

Long Term View:-


The major wave started back in 2001 in the silver and completed in 2008. The major wave 2,
down side correction ended in 2008. Now, we have been observed wav e 3 of wave 3 of major
wave 3. We can see in the chart the red counts are major wave, the green counts are minor
within major wave 3. The violet counts are minute wave within minor wave 3 (i.e. green counts)
and white counts are minuette waves within minut e wave 3 (i.e. violet counts)
Medium Term View:-
We are expecting a flat correction in minute wave 4. The white counts may show the price
action of 25 to 23 USD in coming weeks. If the correction forms extended flat then silver will
make a new high and fall to 25 USD.
Short Term View:-
We can see minuette wave 5 terminated at 29.36 USD which is near to 61.8% of distance travel
from wave 1 base to wave 3. In the flat correction the silver may form 3 -3-5 abc corrective
pattern. The wave a of abc may terminate at 25.33 or 23.54.

To contact researcher on this analysis: riteshgane@safetradeadvisors.com


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