Upwards movement was expected to continue for the week for Silver, but that is not what happened. A strong downwards day on Friday suggests a new alternate wave count, although price remains above invalidation points.
A strong downwards session to end the week favours the bearish Elliott wave count, but price has not yet invalidated any of the three daily charts published for members.
Some sideways or downwards movement was expected for the week. An outside week closes red, meeting expectations overall.
Another small range day while New York is closed for the 4th of July leaves the Elliott wave counts unchanged.
A small range day remains just below the last high. All Elliott wave counts remain valid.
The last high remains in place. All three Elliott wave counts at the daily chart level remain valid. Classic technical analysis favours the alternate Elliott wave count.
A small range inside week sees both Elliott wave counts unchanged. Price remains well within the channel on the daily chart for the bullish wave count.
Last week’s summary expected price to continue overall higher towards 60.53. The high for the week is at 59.93.