Pan American Silver has made extensive use of the blue zone between $21.88 and $13.94 and has little room left to finish the overarching downwards movement. As soon as it has completed wave (ii) in blue, though, it should turn around and gather enough upwards momentum to head for the resistance at $40.11. However, there is still a 45% chance that Pan American Silver could break through the bottom of the blue zone and drop below the support at $10.61, which would then trigger further descent below the next mark at $5.38.
