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Elliott Wave & Hurst Cycle Analysis of Silver (XY futures contract), & the US Dollar (DX Index) by Sid from ElliottWavePredictions.com

Elliott Wave & Hurst Cycle Analysis of Silver (XY futures contract), & the US Dollar (DX Index) by Sid from ElliottWavePredictions.com. Click on the charts to enlarge.

By utilizing a combination of Elliott Wave and Hurst Cycle Analysis, I believe silver will put in a significant bottom in about 3 weeks.  As the daily chart below shows, there is a significant cluster of cycle troughs centered around October 8: those being the 40-week, 20-week, and 80-day cycles.  Also, all of those troughs fall within an 18-month cycle trough window.

Silver daily 9-15-14

A bounce starting as early as October would fit nicely with both the main and alternate Elliott Wave counts, as shown on the weekly chart below. Either way, we should see a rally soon in precious metals that is likely to last at least into the second half of 2015.

Silver weekly 9-15-14

So how could precious metals rally while the US Dollar is shooting to the moon? Well, by using the same combination of Elliott and Hurst, it appears that the current US$ rally may end at about the same time as precious metals bottom.  See the chart below for the main and alternate roadmaps for the US Dollar (DX Index).

US$ DX weekly 9-15-14

Sid
http://elliottwavepre.wpengine.com
http://ElevenQuarterStocks.com

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