Silver is still in triangular correction on weekly time frame and now it has weekly closed below RK's stop loss line which is a sign for weak sentiments again also weekly macd is about to turn bearish again so we can assume that after completing wave a-b-c-d- now we are unfolding wave e in triangle pattern, which can be last decline before breakout towards north move ahead, so if our assumptions are going to be true then silver can fall towards price of $ 21.40, before it turns bullish for a long term rally to start, On up side we can assume $ 30.72 as 0.618% of wave 3 as a target of wave 5 of bigger degree.

Overall wave structure and chart pattern
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Price closed below weekly RK"s stop loss line
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weekly macd down tick
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Daily macd turned negative again
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Daily rsi down tick and closed below 40 range
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DMI _ ADX turned negative
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TLBD along with near Lbb to challenge
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Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
Chart PatternselliottwaveprojectionelliotwaveanalysisFLAGflagformationflagnpoleTechnical IndicatorsSilversilveranalysissilvershorttriangleformationWave Analysis

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Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
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