A new low below 17.322 and then 17.201 has invalidated both my alternate Elliott wave counts for Silver (I only published one). This leaves just one Elliott wave count now for Silver.

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Silver daily 2015

Minor wave 1 has a good fit. There is perfect alternation between the zigzag of minute wave ii and the flat of minute wave iv. Minute wave iii is 0.180 longer than 4.236 the length of minute wave i, and minute wave v is just 0.04 longer than 0.618 the length of minute wave iii.

Minor wave 2 is a double zigzag. The best fit channel about minute wave y is clearly breached now by downwards movement, and the lower trend line is providing resistance to upwards movement.

Minute wave i subdivides reasonably well as a five wave impulse.

I expect minute wave iii has begun. Within it minuette wave (i) may be complete. If this is correct then I would expect some more upwards movement for minuette wave (ii) which should be a deeper correction than it is so far.

At 11.52 intermediate wave (C) would be 0.618 the length of intermediate wave (A). At 5.309 intermediate wave (C) would reach equality in length with intermediate wave (A).