Silver is clearer than Gold, or we shall see more bearish on the short-term chart. What we see on silver is a three wave retracement from the high that is now in progress towards lower levels as latest minor recovery from 16.45 is in three waves, labeled as wave B-circled that may send price down into wave C, towards16/16.20 area.

SILVER 1h Elliott Wave Analysis

SILVER 1-Hour Elliott Wave Analysis Chart

S&P futures market is slow so our view remains unchanged. We still think that price could rally up into wave (c) of D, close to around 20802090 level where resistance could be found. But because of low volume ahead of NFP and holidays break higher may not occur earlier than next week.

S&P500 (June 2015) 1h Elliott Wave Analysis

S&P500 (June 2015) 1-Hour Elliott Wave Analysis Chart

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Ew-forecast.com is providing advanced technical analysis for the financial markets (Forex, Gold, Oil & S&P) with method called Elliott Wave Principle. We help traders who are interested in Elliott Wave theory to understand it correctly. We are doing our best to explain our view and bias as simple as possible with educational goal, because knowledge itself is power.

Gregor is based in Slovenia and has been in Forex market since 2003. His approach to the markets is mainly technical. He uses a lot of different methods when analyzing the markets; from candlestick patterns, MA, technical indicators etc. His specialty however is Elliott Wave Theory which could be very helpful to traders.

He was working for Capital Forex Group and TheLFB.com. His featured articles have been published in: Thestreet.com, Action forex, Forex TV, Istockanalyst, ForexFactory, Fxtraders.eu. He mostly focuses on currencies, gold, oil, and some major US indices.

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