The bullish alternate count :

Under a bullish alternate view on the daily chart, Silver may be completed a five-waves sequence as the wave (5), and hence the bottom at 14.15 could be the terminus point of the wave (5) of  A(circled). Based on the bullish view, the overall five-waves sequence from peak of 50.97 to low of 14.15, may be in early stages of correction.

A description on the waves of current rise :

The sharpness of the subsequents, three-waves structure on the motive waves, and overlapping of the corrective waves; All implies that the bullish leading diagonal is likely in progress. And hence, the leading diagonal conceptually would suggest the turning of the trend to bullishness.

On the near term, the fifth wave of the possible diagonal may be ongoing. In my view, the fibo-expansion target for the fifth wave, could be around the 19.43 . While exceed to the 19.73 level, where is on equality ratio with the third wave, is a red line for the concept. because the third wave is shorter than the first wave, and third wave is never the shortest wave.

Silver-bullish - Daily


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