This is a revision of the previous analysis that I did on Silver. Let me start off by making clear that I am still very much a bull on Silver. The price action looks very impulsive since the start of this year and does not really fit in the price action of the multi year bear market before that point in time.
Therefore I revised the wave count to give you some idea of where we are heading in the bigger picture. Note that a sharp second wave correction is nothing unusual at the beginning of a strong bull market evolving. Everything will depend on whether or not Silver comes back roaring after this correction. It should, because third waves are very impulsive and violent moves.
The correction should end somewhere this week, so it will not be long until we know where this market wants to go.
Therefore I revised the wave count to give you some idea of where we are heading in the bigger picture. Note that a sharp second wave correction is nothing unusual at the beginning of a strong bull market evolving. Everything will depend on whether or not Silver comes back roaring after this correction. It should, because third waves are very impulsive and violent moves.
The correction should end somewhere this week, so it will not be long until we know where this market wants to go.
