Silver – Road Map _02= $silver
In this Silver Road Map, we track the evolving Elliott Wave structure at a granular level, examining how recent price action is altering short-term probabilities. The focus is on identifying whether the latest moves represent a temporary disruption or the early stages of a more meaningful change in direction.
Silver is not yet out of the woods. What is clear at this stage is that the impulsive structures to the upside have been broken, shifting the focus toward corrective or reversal scenarios.
Several options are now on the table.
- Red: Wave (ii) may be complete, with wave c unfolding as a triangle, followed by an impulsive wave i down and now working on wave ii.
- Blue: Wave (b) could be complete, with wave (c) developing as a more complex corrective structure.
- Purple: Waves a and b may be complete, with wave c currently in progress.
The worst-case scenario remains the red count. A clean and strong impulsive move down would likely be interpreted as wave iii of (iii). Clarity should emerge soon, most likely by tomorrow.
Gold has not yet confirmed its intent. A possible outcome for today’s close is an Inside candle, which would be consistent with a developing top.
History:
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