Price remains range bound. This week On Balance Volume gives an important signal.
A small sideways consolidation was expected to unfold for a fourth wave. This is exactly what is happening.
Downwards movement was expected for the last week, which is exactly what has happened for US Oil.
Both Elliott wave counts remain valid.
An upwards day with support from volume breaks above resistance.
Resistance zones will be used as targets.
Another small range day remains within the consolidation zone. On Balance Volume remains range bound and may give a signal within a very few days.
A small inside day fits the preferred Elliott wave count.
Price remains range bound. Volume still indicates the same expected breakout direction.
Volume analysis still favours the first Elliott wave count.
On Balance Volume is watched carefully this week. It may signal which Elliott wave count is most likely.
Upwards movement was expected for Silver for the week, which is what has happened.