According to the expectations :
Silver apparently is continuing to correct the extended wave (a), in the three-waves sequence (b). The current rise could be wave b of (b), and decline of wave c is probably ahead…
Fibonacci targeting :
The Fibonacci 0.618 retracment level – now at 16.08, could be considered as an adequate target for the ongoing wave (b).
The 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 0.618 time ratio.
Note : According to Elliott Wave Principle, “A leading diagonal in the wave one position is typically followed by a deep retracement.”