Menu
Brokers
MT4 Forex Brokers
MT5 Forex brokers
PayPal Brokers
Skrill Brokers
Oil Trading Brokers
Gold Trading Brokers
Web Browser Platform
Brokers with CFD Trading
ECN Brokers
Bitcoin FX Brokers
PAMM Forex Brokers
With Cent Accounts
With High Leverage
Cryptocurrency Brokers
Forums
All threads
New threads
New posts
Trending
Search forums
What's new
New threads
New posts
Latest activity
Log in
Register
Search
Search titles only
By:
Search titles only
By:
Menu
Install the app
Install
Reply to thread
Forums
Forex Discussions
Technical Analysis
Elliott Wave Analysis by EWF
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Message
[QUOTE="Elliottwave-Forecast, post: 211427, member: 40858"] Commodities have been pulling back after the first half year rally due to inflation and war in Ukraine. The Fed has hiked rates a few times to tame the inflation, and all types of commodities have taken a step back in the past month or two, including silver. Below is a technical update for Pan American Silver Corporation (ticker: PAAS). The company is engaged in the production and sale of silver, gold, zinc, lead and copper. [HEADING=3]PAAS Monthly Elliott Wave Chart[/HEADING] [URL='https://elliottwave-forecast.com/wp-content/uploads/2022/08/PAAS-Monthly20220801072730.jpg'][IMG]https://elliottwave-forecast.com/wp-content/uploads/2022/08/PAAS-Monthly20220801072730.jpg[/IMG][/URL] Monthly chart of PAAS above shows cycle from January 2016 low takes the form of a nest. Up from January 2016 low, wave (I) ended at 21.59 and pullback in wave (II) ended at 10.26. The stock then extends higher in wave (III) which subdivides in another 5 waves in lesser degree. Up from wave (II), wave I ended at 40.11. Wave II pullback is in progress and may see further downside to complete a 7 swing ((W))-((X))-((Y)) structure. As long as it stays above $5.5 however, the stock should extend higher. [HEADING=3]PAAS Daily Elliott Wave Chart[/HEADING] [URL='https://elliottwave-forecast.com/wp-content/uploads/2022/08/PAAS-Daily20220801072927.jpg'][IMG alt="PAAS Daily Elliott Wave Chart"]https://elliottwave-forecast.com/wp-content/uploads/2022/08/PAAS-Daily20220801072927.jpg[/IMG][/URL] Daily Elliott Wave chart above shows the decline from wave I peak on August 1, 2020 high is unfolding as a double three Elliott Wave structure. Down from 8.1.2020 high, wave ((W)) ended at 20.73 and wave ((X)) rally ended at 30.54. Stock has resumed lower again in wave ((Y)). Down from wave ((X)), wave (W) ended at 17.26, and wave (X) rally is in progress to correct cycle from 4/18/2022 high in 3, 7, or 11 swing before the decline resumes. [HEADING=3]PAAS 4 Hour Elliott Wave Chart[/HEADING] [URL='https://elliottwave-forecast.com/wp-content/uploads/2022/08/PAAS-4-Hour20220801074217.jpg'][IMG]https://elliottwave-forecast.com/wp-content/uploads/2022/08/PAAS-4-Hour20220801074217.jpg[/IMG][/URL] The 4 hour chart of PAAS above shows cycle from 4/18/2022 high has ended with wave (W) at 17.24. Wave (X) rally is in progress now with internal subdivision as a zigzag Elliott Wave structure. Near term, while dips stay above 17.24, expect the stock to continue higher within wave (X). Possible target for now is 50% - 61.8% Fibonacci retracement of wave (W) which comes at 23.9 - 25.48 area before it resumes lower again. Source: [URL]https://elliottwave-forecast.com/stock-market/pan-american-silver-paas-still-may-see-further-downside/[/URL] [/QUOTE]
Insert quotes…
Verification
Post reply
Top
Bottom
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.
Accept
Learn more…