Silver $XAGUSD Short-term Elliott Wave Analysis 2.24.2016

Revised short term Elliottwave structure suggests rally to 15.953 ended wave (3). Wave (4) pullback is unfolding as a triangle where wave A ended at 14.89, and wave B is currently in progress. Internal of wave B is unfolding as a double three where wave (w) ended at 15.3, and wave (x) ended at 15.13. While above this level, the metal is expected to continue higher in wave B towards 15.53 – 15.77 area before turning lower in wave C and resume the consolidation. The triangle idea remains valid as far as wave (A) at 14.897 stays intact.

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