Silver, in the monthly frame, is in the process of correcting the prior advance to the April 2011 peak of 49.82. This correction will ultimately amount to a partial retracement of the advance. Since the peak, prices have traced out an impulsive sequence down, that remains in its late stages.

The overall decline so far, could be still-developing Primary wave A, which is only initial part of a three-wave corrective sequence of one larger degree, that is not yet complete.

Silver - Monthly

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