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Silver: start of a bullish trend

analytics
12 April 2017 , 12:26

On the daily timeframe of silver futures, there are symptoms of a correctional bullish phase of the market in wave C, according to the classic marking of Elliot waves. Formation of the reversal bull formation within the C wave will be an excellent moment for buying this instrument.

Fundamental factors

Over the past few years, investments in silver have increased almost twofold, after a decline of 70% since 2011. It is worth noting that investing in silver ETF is only 10th of the share of physical investment in a metal ingot. As for the supply and demand for this metal, neither a positive nor a negative shift in this issue has been observed. Until this day, the imbalance between supply and demand was only 52 million ounces. Thus, the imbalance between these indicators in 2016 provoked metal growth from $ 14.00 to a record $ 21.00 and closed the year at $ 16.00.

In order to further explore the analysis, as well as the entry point to the position, you can see full details in the personal account of our TSI Trading Pro platform.

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