FX.co ★ Elliott wave analysis of Silver for September 6, 2022

Silver made a new corrective low at 17.56 and needs to clear minor resistance at 19.43 and more importantly resistance at 20.10 to confirm that the corrective decline from 30.00 finally has completed and the impulsive rally towards 30.00 and ultimately 50.00 is unfolding.

That said, we also need to acknowledge that as long as resistance at 19.43 holds firm, a new low below 17.56 can't be excluded, but the potential downside should be pretty limited from here.