SILVER Elliott Wave Technical Analysis
The wave count was invalidated with downwards movement. I was too quick to label the C wave of the triangle as complete.
Overall the wave count remains the same.
Minor wave B still looks like it is unfolding as a regular contracting triangle. Within the triangle minute wave c now has a better more typical look, and so with this anlaysis I am more confident it is finally over. Minute wave c is now an 82% correction of minute wave b which is a very typical length and gives the triangle the "right look".
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.
If minute wave c continues lower it may not move beyond the end of minute wave a at 18.585.
Overall this wave count expects to see very choppy, overlapping sideways movement for a few weeks yet in an ever decreasing range.
The structure of minute wave c is complete and looks clearly like a "three" on the daily chart.
Within minute wave d no second wave correction nor B wave may move beyond its start below 19.232.