A small upwards day to just above 1,265 fits expectations for the short term. 1,265 was expected to be about where upwards movement may find resistance.
A little more downwards movement was expected from last week’s classic technical analysis.
At least four Elliott wave counts remain valid, so classic technical analysis is vital to indicate which one is most likely.
Sideways movement to end the week fits the short term expectations for the Elliott wave count.
Sideways movement with one slight new high fits expectations for the week. A new high above 74.96 to 75.26 has invalidated the alternate Elliott wave count, providing more confidence now in the main Elliott wave count.
Volume analysis supports the Elliott wave analysis at this stage.
A doji candlestick on the daily chart fits the expectations for a consolidation to continue.
A strong candlestick pattern indicates the next consolidation has arrived, $10 short of the target.
The main Elliott wave count expected downwards movement to continue for Silver, which is what has happened.
The Elliott wave target remains the same.