Commodities

Silver – Road Map Update

117819

•

Open Articles Public Silver Weekly

597

In this Road Map update, we break down the recent collapse, examine the bounce under the microscope, adjust the framework if needed, assess the implications of the new low, and map out where silver is most vulnerable—and where it could still surprise.

Elliott Waves

Short Term

Today’s bounce tells us two important things. First, silver is likely done with wave A, with no diagonal expected at this stage. Second, the bounce itself is corrective in nature. As of now, silver is moving lower and may be forming an impulsive structure, shown in blue, but it still lacks one more clean, non-overlapping wave down. If that wave completes, the blue count could become the primary scenario, with today’s high marking wave B.

In general, the red path would be the more natural outcome for a correction of this magnitude, for several reasons. At this point, the key task is to understand the shape of wave B, and that will require some patience.

=====

Open Articles Public Silver Weekly

597

Read Next

130962

US Indices

SP500 – Daily Analysis

Are the candlemaps ugly enough after today’s move—or is the market preparing to make them even worse? And, more importantly, have you been listening to our recent warnings? The key question now is whether the current SPX weakness remains a contained correction—or whether the index is preparing to accelerate into a much deeper decline that […]