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.
This week a candlestick pattern indicates the most likely direction for next week. How far this next wave moves may indicate which Elliott wave count is most likely.
Sideways movement has continued this week. Volume may indicate the most likely breakout direction from the consolidation.
On Balance Volume may give a signal next week.
Price remains within a consolidation zone.
On Balance Volume still has not given a signal.
Price remains range bound.
On Balance Volume may give a signal in the next very few days.
The ascending triangle pattern has not resulted in a clear breakout, so it is discarded.
Four Elliott wave counts remain valid. Two hourly charts are provided for members today.