Silver: Hurst Cycles - 20th January 2023
Silver, in commonality to Gold, moves swiftly from an 18 month nominal low, formed around October 2022. Price now approaches a likely 20 week nominal crest - we look at the latest phasing.
Essentials: Nominal Model | FLD | FLD Trading Strategy | FLD Trading Strategy (Advanced) | Principle of Nominality | Underlying Trend | Time Frequency Analysis
Analysis Summary
Silver has moved with a similar enthusiasm to Gold from the 18 month nominal low we discussed back in November 2022. Much of the analysis below is very similar to our recent report on Gold so please do read that if you have not already.
From 21st November Report:
Price has breached both the 20 and 40 week FLDs, suggesting a low of at least 40 week magnitude has occurred but the next 80 day and 20 week component troughs should seal the deal. If the 18 month component has occurred, we should expect these troughs to form higher lows. These are expected mid December and late January / early February respectively, at current average wavelengths.
What is notable about this analysis of Silver is the suggestion of the a 40 week nominal peak being imminent. There is a lot of bullish sentiment on fintwit around Gold and Silve…