According to the bearish expectations :

Under the bearish alternate view on this fine frame of daily chart, after the barrier triangle as wave (4), Silver fell down in the five-waves sequence which should be only first wave of wave (5). Hence, the rise up from low of 14.15 through last peak at 18.50, could be corrective wave 2 of the fifth wave.

A neat explanation on the recent decline from peak of wave 2 :

Currently, the sequence of five-waves overlapping down, in a bearish leading diagonal, as an initial subsequent, conceptually would infer that the trend persistently is down. And so, after a correction as the second wave, bearishness will likely to dominate over the coming weeks

Silver - Daily

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s