Overall, downwards movement was expected for the week for Silver. An inside week sees price move sideways, remaining constrained within support and resistance.
Sideways movement continues all week. Price remains range bound.
The Elliott wave counts both expect a breakout in the same direction.
Downwards movement was expected for the week, but a new high above 58.75 indicated a deeper bounce. At that stage, the target was at 74.75.
A small range day continues a small consolidation pattern. The breakout is still expected in the same direction.
Last analysis expected a little more upwards movement. An outside day sees price remain range bound.
Sideways movement continues. The breakout is expected this week.
A small amount of upwards movement to start the week remains below the short-term invalidation point. Both Elliott wave counts remain valid.
In addition to TRENDS Monthly, which is published first of the month, I would like to introduce to Elliott Wave Gold members TRENDS Intramonth, which is published mid month as an update.
Like the TRENDS Monthly report, the TRENDS Intramonth report will be published on the Invysis.com website.
Downwards movement was expected for the week for Silver. This is exactly what has happened.