Sideways movement for this week has continued exactly as expected from the Elliott wave count and classic technical analysis. The short-term structure is analysed this week to determine if the correction may be complete or not.
A bounce or sideways correction was expected to continue for the last week. An upwards week exactly fits this expectation. The target remains the same.
Overall, sideways movement continues as expected from the Elliott wave counts.
A sideways consolidation was expected to begin after the session for the 4th of January closed. The following three sessions thereafter have all moved sideways, which exactly meets expectations.
Elliott wave analysis is used to determine when a corrective structure may be complete.
Some downwards movement was expected, which is what has happened.
Members were warned to expect a sideways consolidation. An inside day exactly fits this expectation.
Silver was expected to continue to move higher for the week, which is what has happened.