Enjoy and trade appropriately. USDJPY tells the whole story. There exist a 30% probable alternate count which has USDJPY rising to 113.5 before reversing LOWER.
EXPANDED FLAT with Dates correlation to the Dollar and Indices Trade appropriately.
30% probable COUNT, aesthetically it doesn't look right, and if this were the count you would expect the "Character" of the price action to have more volume / support and confident ... but it is possible. We will know when Silver Breaks the Price Channel. Either way in my opinion Silver is at a FAIR price.
A little LOWER, THEN IMPULSE WAVE-3....Starts
Possible Structure to Think About
A Corrective Wave-B structure could be forming. Trade appropriately.
Ending Diagonal UP, then DOWN on WAVE IV
GRID slightly UP (Wave-B) then back down to complete WAVE-C Keep an eye on the Dollar
UP AT FIRST, THEN EVENTUALLY MOVING LOWER KEEP THE CHART SIMPLE
Unless USA-FED intervenes again: One(1) bump UP, then lower to around 1.172 .... and expecting upward price movement from the 1.171 support zone. Extended downward trend started on 2.25.21, as a result of USA-FED policy to strengthen Dollar markets.
NEW COUNT SAME RESULT: Short-Term = Looking higher. Mid-Term = Looking Lower. Long-Term = Looking Higher.
Trade, hold or stay in cash accordingly
40% probability down to 23.49 then reverse impulse higher 40% probability down to 24.5 then reverse impulse higher 20% probability down to 21.5 then reverse impulse higher
30% Probability goes to 37.40 then reverses impulses higher. 30% Probability goes to 42.70 then reverses impulses higher. 20% Probability goes reverses impulses higher from current level. 20% Probability goes up from current level to 51.0 then correct downward (A-B-C) lower than 42.70.
CORRESPONDS inversely to US-Markets. 50% prob. reach 93.75 then turn lower. 30% prob. reach 92.73 then turn lower. 20% prob. correct then impulse higher beyond the 93.75 range.
Stay in CASH, TRADE, HOLD, BUY, SHORT or SELL, according to your OWN plan Short-Term =LONG. Mid/Long-Term = SHORT.
IF you still HOLD, ARK investment Stock (Cathie Woods), you might have a 2ND chance to DUMP, before it goes down even LOWER. The ARK's should grind higher for the next 2-4 weeks (as the DOLALAR weakens), then continuing LOWER again with the rest of the US-MARKET. While there is a 25% chance this could be a start of a 5th impulse wave, I think this possibility...