SILVER Elliott Wave Technical Analysis
Last analysis expected a little more downwards movement to a target at 19.13 before a trend change. The trend change had already happened at 19.579 and price did not move lower.
Overall the wave count remains the same.
Minor wave B looks like it is unfolding as a regular contracting triangle. Within the triangle minute wave c recently ended as a double zigzag.
This wave count now expects more upwards movement to complete minute wave d as a single zigzag.
Minute wave d may not move beyond the end of minute wave b above 22.224.
When minute wave d is complete then a final wave down for minute wave e would end the triangle. Minute wave e may not move below 19.579.
Overall this wave count expects to see very choppy, overlapping sideways movement for a few weeks yet in an ever decreasing range.
Within minute wave d minuette wave (a) subdivides as a leading expanding diagonal.
Minuette wave (b) is an incomplete zigzag. I would expect to see it move a little lower or sideways before it is done.
Minuette wave (c) should move price higher, beyond the end of minuette wave (a) at 20.235.
At 21.695 minute wave d would reach 80% the length of minute wave c. This is a common wave length for waves within triangles.
Minuette wave (b) may not move below the start of minuette wave (a) at 19.579.