The bearish outlook :
Silver has developed the overlapping waves down, from the high of 17.40. The choppiness of this development would suggest that a leading diagonal as the first wave of minuette degree is likely in progress…
The eventual target for extreme point of the diagonal wave (i) is through 15.65, where establishes an equality ratio with preceding first wave of the same degree.
Note : Leading diagonals as a directional concept could raise confidence that the current trend in direction of the leading diagonal is persistent.