The International X Silver Miners ETF (SIL) affords traders publicity to a basket of corporations engaged in silver mining worldwide. Launched in 2010, the fund seeks to duplicate the efficiency of the Solactive International Silver Miners Complete Return Index. This offers traders environment friendly entry to the sector in a single commerce. On this article, we are going to take a look at the Elliott Wave technical outlook for the ETF.
SIL (Silver Miners ETF) Month-to-month Elliott Wave Chart
The month-to-month Elliott Wave chart of the Silver Miners ETF (SIL) exhibits that wave ((II)) of the Grand Tremendous Cycle concluded at $14.94 in January 2016. From that low, the ETF has superior in a nesting impulsive construction. Wave I rose to $54.34 earlier than a corrective wave II retraced to $16. The following nesting sequence carried wave ((1)) to $52.87, adopted by wave ((2)) at $21.26. So long as worth stays above $16, any pullback is predicted to seek out assist throughout the 3, 7, or 11 swing sequence, setting the stage for continuation increased in wave ((3))
Silver Miners ETF Day by day Elliott Wave Chart
The Day by day Elliott Wave chart of the Silver Miners ETF (SIL) exhibits that the rally from the October 4, 2025 low is unfolding as an impulse. Wave 1 peaked at $42.29, adopted by a corrective wave 2 that bottomed at $31.37. The ETF then superior in wave 3 to $80.72, earlier than a wave 4 pullback ended at $61.80. Within the close to time period, so long as the $31.37 pivot low stays intact, SIL ought to prolong increased to finish wave 5 of (3). Afterwards, a bigger corrective pullback ought to unfold to retrace the cycle from the October 4, 2025 low.