Silver made some nice recovery recently which looks like an impulse. But, we can now see it finishing a five-wave cycle from October lows and also a five-wave cycle of the lower degree within 5th wave. Well, in Elliott wave theory, after every five waves, we can expect a slow down, so silver could retrace the price at least back to the former wave 4 support, especially if we consider RSI divergence.
We are actually observing a higher degree wave (4) correction that can retest 22-20 support zone before a bullish continuation, but only if the price manages to stays above 18 invalidation level.
