Silver may have completed an impulsive wave (a) as initial subsequent of the likely deep retracement in progress. Currently, it appears the weakness in corrective wave (b) will be ahead…
Fibonacci targeting :
An expected target for extreme of the overall corrective sequence as the wave ii of circle degree, could be around the Fibonacci 0.786 retracement level at 17.83. The ongoing wave ii (circled) will likely last through early April when is the Fibonacci time ratio 0.618.
Note : According to Elliott Wave Principle, “A leading diagonal in the wave one position is typically followed by a deep retracement.”