According to the expectations :
Silver, after completing the impulsive wave (a), has begun its way down as expected. The weakness may be only wave a of three-waves correction as the wave (b) in progress.
Fibonacci targeting :
The Fibonacci 0.5 retracment level at 16.33, could be considered as an adequate target for the ongoing wave (b).
An ultimate target as extreme point 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.”