Silver Weekly Elliott Wave Outlook

This is my aggressive count for Silver on the weekly chart.

From a textbook Elliott Wave perspective, the market looks like it completed a major first wave into the 2011 peak, followed by a deep and complex second-wave correction that unfolded over multiple years. What we may be seeing now is the early phase of a much larger third wave at a higher degree — and if that count is right, this is where things can get explosive.

The structure so far suggests a strong impulsive move out of the long-term base, and the fib relationships point to a potentially powerful expansion phase ahead. The aggressive scenario assumes that price is already building the internal structure of Wave III within the larger Wave 3 sequence.

Key idea:

- Major Wave 1 completed at the 2011 top

- Major Wave 2 unfolded as a long corrective phase

- Current price action may be the start of Major Wave 3

- Wave 3 should unfold in 5 smaller waves, with strong momentum and limited retracement

- If this count holds, the upside potential remains significant over the coming years

Of course, this is the aggressive scenario. If invalidated, I’ll share the more conservative alternate count as well.