Silver: Hurst Cycles - 18th August 2022

Price moves up strongly from the 80 day nominal component low in mid July to a target of around 21. Now, the 40 day nominal low is imminent. In this report we look at what could be next for Silver

Tools required: Nominal Model | FLD | FLD Trading Strategy | FLD Trading Strategy (Advanced) | Principle of Nominality | Underlying Trend

Analysis Summary

In our last report into Silver we anticipated the trough of the 80 day component. Price established that low around the 14th of July and subsequently moved to our target of around 21:

From 8th July Report

Fairly straightforward trading entries here with a bullish cascade above price and an imminent 80 day nominal low due within the next week or so. Entry via a range of FLDs. Watch for resistance at the downward 40 day VTL (dark blue line on short term chart). The 80 day component will likely top out at the 80 day FLD (light blue, short term chart) around 21 in the weeks to come.

Price reached that peak and is now at the nest of lows for the 40 day component trough (short term chart, below). Outstanding questions remain as to the position of the 40 week wave and a compelling time frequency analysis of the longer component is shown below. The move from the 40 day nominal low described in this report will really show us the nature of the underlying trend.