SILVER INTRADAY CHART
5th January:
The broad template appears correct but very complicated. The Wave -x- was a little higher at 14.41 from where a 5wave decline has been seen to 13.76. This suggests that we need another pullback higher but holding below the Wave -x- for losses to below the 13.63 low but then hold above the 38.2%-41.4% expansion at 13.48-51. From there we shall need a 5-wave rally in Wave efc that should reach between the 41.4%-50% retracement between 14.77 - 14.95 in Wave [iv]. (During this process, Gold needs to correct in a Wave x and then see the final ABC higher.)
This would allow a decline in Wave [v] to the 12.75-98 area being the 50%-58.6% projection. This would match with an approx 50%-58.6% projection in the daily Wave (v).