Silver

According to the bearish expectations :

Under the bearish alternate view on the daily chart frame, after completing the barrier triangle wave (4) at terminus point of 21.77, Silver fell down in the five-waves sequence which could be only first wave of wave (5), and the rise up from low of 14.15 through last peak at 18.50, could be corrective wave 2 .

Currently, Silver has formed a five-waves overlapping sequence down, in a leading diagonal formation as the initial subsequent of decline ahead. it appears that the leading diagonal has been corrected in a three-waves second wave, And now a third wave has begun to progress…

Note : Hence, forming of the leading expanding diagonal as a bearish concept, and its three-waves correction up, would indicate turn to downward in a persistent trend, conceptually!

A bullish alternative :

Under a bullish alternate view on the daily chart, Silver after completing the barrier triangle wave (4), could be completed the five-waves sequence down as the overall wave (5), and hence the bottom at 14.15 could be the terminus point of the wave (5) .

Not: Forming a five-waves sequence up, would raise confidence that trend has turned up, and bullishness will likely to dominate over the coming weeks.

Silver - Daily

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