Peter Smith
Silver just hit the brakes after a monster run from July's lows, but don't mistake this pause for weakness. The question isn't whether silver will resume climbing - it's how high it can go.
Elliott Wave Structure Shows Bullish Blueprint
The metal peaked near $43.37 before pulling back, and according expert Elliottwave Forecast, this correction might be exactly what bulls need for the next leg higher
The technical setup couldn't be clearer. Silver completed a textbook five-wave impulse from July 2025's low, hitting that $43.37 peak before entering what appears to be a normal corrective phase. These corrections typically unfold in 3, 7, or 11 swings according to Elliott Wave theory, and they're actually healthy for sustained uptrends. The key level everyone's watching is that August 20th low around $36.18 - as long as silver holds above this support, the bullish structure stays rock solid.
The chart annotation "We Do Not Recommend Selling" says it all. This isn't a time to panic or go short. Instead, smart money is likely viewing any weakness as a chance to add positions before the next rally kicks in.
Why Technical Signals Favor More Upside
The impulse completion from July validates that silver's primary trend is bullish, not bearish. What we're seeing now is consolidation, not reversal. That August support zone near $36 represents a critical floor - if it holds, we could see silver challenge and potentially exceed that recent $43.37 high. The structure suggests there's still room for one more significant push higher, which could complete the broader move that started back in July.
For traders and investors, silver remains one of the more compelling setups in precious metals right now. The correction provides entry opportunities while the bigger picture stays intact. If technical analysis holds true, the next few weeks could deliver exactly the breakout that silver bulls have been waiting for.
Peter Smith
