Silver Miners: Blow-off 5th Wave Rally Imminent in SILJ

29 Nov 2021

The SIL and SILJ ETF's are both following a classic impulsive pattern that began with our low in the spring of 2020. After a powerful 3rd wave blow-off rally that peaked in the summer of 2020, a seemingly endless 4th wave correction has been grinding away all hope in the metals sector. However, we may have reason to be bullish as there are clear signs that the correction is over and that the 5th wave has commenced!

Not only is there great confluence at the 0.382 ext targets overhead, but metals are famous for 5th wave extension blow-off tops which can drive up prices levels to the 0.618 ext and beyond! They are not easy to predict and take off parabolically, so it is prudent to leg-in carefully and methodically as a setup develops. We have similar setups developing in gold ( GDX / GDXJ ) and copper ( COPX ) as well!

I use Elliott Wave analysis to project price levels for different assets and asset classes. EW is a form a technical analysis that is absolutely NOT based on fundamentals. Please be aware that this video is not intended to act as financial advice. I am not a trained or certified financial professional. You may invest based on a strategy tailored to your own skill and risk-tolerance levels.

SIL & SILJ Component Stocks:

SIL ETF - Global X Silver Miners ETF:
WPM - Wheaton Precious
POLY LN - Polymetal
PAAS - Pan American Silver Corp
SSRM - SSR Mining Inc
HL - Hecla Mining Co
FR CN - First Majestic S
FRES LN - Fresnillo PLC
010130 KS - Korea Zinc Co Ltd
BVN - Buenaventura-ADR
PE&OLES* MM - Industrias Penol

SILJ ETF - ETFMG Prime Junior Silver Miners ETF:
AG - First Majestric Silver Corp
PAAS CN - Pan American Silver Corp
AUY - Yamana Gold Inc
SSRM CN - SSR Mining Inc Com NPV
MAG CN - MAG Silver Corp Com
SIL CN - Silvercrest Metals Inc
HL - Hecla Mng Co
TRQ CN - Turquoise Hill Resources Ltd
GATO - Gatos Silver Inc
EXK - Endeavor Silver Corp

#silver #gold #silversqueeze