An upwards day was expected for Friday’s session, which is what happened.
Upwards movement was expected for Silver.
Price has mostly moved sideways.
Another new low for Gold was not expected.
A new low below 1,172.10 indicated more downwards movement, but the target for the alternate Elliott wave count at 1,169 was inadequate.
Upwards movement was expected, but this is not what has happened.
Price has moved mostly sideways to complete a small red doji and remains above the invalidation point on the hourly chart.
Last analysis expected downwards movement.
Price has moved overall lower for the week.
The main Elliott wave count expected a green daily candlestick for Monday, which is what has happened.
A short, sharp wave down to about 1,170 was expected for Friday’s session. This is what happened. Downwards movement reached 1,172.10 before reversing.
Another downwards week leaves all three Elliott wave counts valid, but one looking extremely unlikely.
A very quiet sideways session while New York is closed for Thanksgiving Day includes a slight new low. This makes a difference to the short term picture for the main Elliott wave count.
The main Elliott wave count was invalidated with a new low below 1,204.05, and the target at 1,203 was inadequate for the alternate Elliott wave count.
Yesterday’s analysis expected upwards movement overall.
Price has overall moved sideways and lower. So far an inside day is completing for Tuesday’s session.
Last analysis expected an upwards correction was not over.
Price has overall moved higher but remains below the invalidation point.