Silver has moved lower on light and declining volume since last analysis three days ago.
Upwards movement is continuing as expected.
Another very small range day completes a small doji candlestick. This fits neatly with the expectations short term for the Elliott wave count.
Another small inside day fits both Elliott wave counts, but price behaviour is pointing to one scenario more strongly than the other.
A small inside day fits the preferred expectations for Gold, but all Elliott wave counts still remain valid. Targets remain the same.
Price has moved lower as the main Elliott wave count expected, but only slightly. The confirmation / invalidation point remains the same.
A small downwards day fits the preferred expectations for Gold, but all Elliott wave counts remain valid. Targets remain the same.
Another small consolidation unfolded as expected finding support at the trend line on the daily Elliott wave chart. Thereafter, upwards movement has continued as expected.
A small upwards day fits all four Elliott wave counts. Price behaviour is now pointing to which wave count looks most likely.
A small inside day sees upwards movement. Price remains below the invalidation point.
A new low below 16.652 confirmed a more bearish second alternate Elliott wave count and invalidated the first two Elliott wave counts.
Downwards movement was expected to continue for the main Elliott wave count after last analysis.
The target remains the same and the alternate now has a new target.
Again, upwards movement was expected to complete a small consolidation before price fell further.
The consolidation was already complete and price has made a new low.