The bearish outlook :
On the primary degree wave A in the late stages, Silver may have started to fall in a minor degree third wave of an extending wave (5).
The outlook remains bearish against the 18.50, towards the 6.41 where wave 3 equals 1.618 times the length of wave 1.
The ultimate target could not exceed the level of 4.35 where wave (5) = wave (3). Because wave (3) < wave (1) and wave (3) could never be the shortest wave.