The correction in Silver
should soon approach a bottom targeting the 61.8% retracement
of the full impulsive Wave 1 that started in December last year. If the bottom is followed by a strong price movement to the upside, we will have resumed the bull
trend in a Wave 3 that should take us to at least 28 and potentially higher if it develops into an extended wave.
A drop below 16.50 will have me reconsider the count with potentially new lower lows seen in the long term trend though that is unlikely at this point.
The alternative red count follows the same overall price movement with no changes to the price target for the bottom.