Trust is strengthened by younger ETF-Silj miners (one-day) technical analysis Elliott Wave
Daily chart
Function: Main trend.
Mode: Theme.
Structure: Impulse.
Position: Wave [iii] Navy.
Direction: Rally.
Details:
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Wave 3 is close to entering the most powerful part of the impulse: third third third wave.
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This movement will take place after the outflow of the current wave (II). It is expected that the last correction of three waves to minus will end the wave (II).
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After the wave (II), a sturdy rally should begin exceeding the height of USD 15.17.
Level of annulment: USD 11.57
Trust is strengthened by younger miners ETF-Silj (four-hour) technical analysis Elliott Wave
Hourly chart
Function: The main trend (miniature, gray).
Mode: Theme.
Structure: Impulse.
Position: Wave (III) [iii].
Direction: Uptrend.
Details:
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Silj now entered the most anticipated stage of the rally.
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The current movement is expected to be sturdy and almost vertical in behavior.
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The wave (III) should easily exceed $ 14.50 and continue moving higher.
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Entrance points and levels of Stop-Loss are delivered on the chart.
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Level of annulment: 11.58 USD.
Application
The summary of the Elliott wave analysis for Silj is:
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Silj continues the rally and the upward trend is now mature.
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This point is crucial for traders who are to move with the trend, not against him.
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The level of 11.58 USD remains a key point of annulment for a stubborn script.
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According to the principles of Elliott Wave and monitoring the levels of annulment, they are necessary steps to effectively manage trade risk.
