Elliott wave analysis of GOLD and SILVER | Oct 31 2026
1 extracted signal · 0 resolved · 1 still active
elliott wave principleIndependent analyst profile- Source published
- 31 Oct 2026, 15:43 UTC
- Recorded by Tahlil Plus
- 31 Oct 2026, 19:30 UTC
AI-generated source summary
The analysis focuses on Gold (XAUUSD) and Silver (XAGUSD) using Elliott Wave and technical analysis on a daily timeframe. The current market trend for both assets is identified as bearish, with significant price drops observed. Gold has fallen from a high of approximately 5500 to its current price around 3875, while Silver has experienced a drop of about 66% from its peak, currently trading around 49.1877. The speaker identifies potential bottoming patterns and historical support levels. For Gold, a target of 6500 is projected, with a fail bound below 1800. For Silver, a target of 225 is projected, with a fail bound below 45. The analysis suggests that current support zones, particularly historical levels around 48.34 for Silver and the trend lines on Gold, are crucial for the predicted bullish continuation. The speaker emphasizes the long-term bullish outlook for both commodities, supported by geopolitical factors and a potential shift in fiat currency values, suggesting that major bottoming patterns are in play. The analysis relies on identifying wave structures and support/resistance levels to predict future price movements.
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