Silver will continue down

Oct 15, 2020

Greetings for the day!

Silver has been consolidating in what could be viewed as C wave of 4th wave. But the point is whether we have completed the 4th or the consolidation will continue?

It is very likely that presently we might form a triangle in (iv) of C and then the final drop towards the 20.5 $ to end this decline.

The momentum is showing decline to continue.

Note:This update is for education purpose only.

Oct 15, 2020

Note

With the low marked today we have ended the minor wave (a) of the b wave of triangle and presently rising in (b).

Oct 16, 2020

Note

We are close to the end of marking the above rise as a (b) wave rise in the abc pattern decline for b of triangle formation for wave (iv). Any impulsive decline would confirm that the (c) wave have begun targeting closer to 22.48.

Any advance above 25.55 would invalidate the whole pattern and would likely confirm that this consolidation might take further time.