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In the long term, Silver is most likely moving inside a corrective trend consisting of cycle waves w-x-y-x-z.

On the 1H timeframe, we see the structure of the second intervening wave x, which could soon end. This could take the form of a triple zigzag of the primary degree Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ

By the middle of last month the primary intervening wave Ⓧ ended as a zigzag (A)-(B)-(C).

At the moment, the price could be in the primary wave Ⓩ. Perhaps this wave will be a standard zigzag, where the impulse and correction have ended. In the near future, growth is expected in (C) to 27.927.

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Alternatively, it is assumed that the intermediate correction (B) has not yet completed. There is a possibility that it will take the form of a minor zigzag A-B-C.

Only the first impulse wave A has ended. A slight rise in the second part of correction B is possible in the near future, after which a decrease is expected in the final impulse C.

It is assumed that the intermediate correction (B) will be at 38.2% of impulse (A), and will end near 23.740.

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