Silver supply/demand historical and current

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silverwood's picture
Joined: 06/15/2011
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Any good Elliot wave chartist here?

Looking at the chart I posted in #261 (As we exit 2016 $Silver still in a bear market for silver) I had this thought...the 1980 peak in silver was followed by a bear market that lasted until the final low of $3.51 in 1991. A new bull started here, Wave 1 and ended at $7.40 in 1998( the Warren Buffet peak). Then corrective wave 2 ended at $4.01 in late 2001. Then wave 3 ended at $49.82 in April of 2011. Then corrective wave 4 ended at $13.62 in December 2015. We are now in wave 5. I know there are measuring tools with Elliot wave to guestimate where wave 5 will go to but if it is about equal to wave 3 then we could see silver at $130 to $150. 

argentus maximus
argentus maximus's picture
Joined: 01/20/2013
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Wave 5 =equality to wave

Wave 5 =

equality to wave 1

wave 1 x 1.618

not exceeding wave 3

five completed sub waves

when wave 5 contains an extended wave 1st 3rd or 5th that makes a total count of nine for the total wave five

volume and momentum divergence against a higher high at wave three top, can help to locate the top of wave 5 whereby volume and momentum make a new but lower high

and a failed wave five (no new high over the third wave top) might top at 0.618 x wave 1 (but have a fully complete internal count)


argentus maximus
Rhythm 'n Price
This analysis - global markets

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