Silver continues to trade within a larger-degree corrective structure on the higher timeframe. The advance from the recent bottom has unfolded in a clear five-wave impulsive sequence, which is being labelled as Wave A of the broader corrective framework.
With Wave A likely complete, the market now appears positioned for a retracement phase (Wave B) before the next directional move emerges.
From a structural standpoint, the corrective pullback could extend toward the following support zones:
₹2,55,000
₹2,48,000
These levels align with key Fibonacci retracement areas and prior structural supports.
Upon completion of this corrective phase, the broader setup suggests the potential for a renewed impulsive advance in the form of Wave C, which would complete the higher-degree corrective pattern.
Until the retracement structure confirms maturity, the near-term expectation favours consolidation-to-corrective downside within the broader constructive framework.
With Wave A likely complete, the market now appears positioned for a retracement phase (Wave B) before the next directional move emerges.
From a structural standpoint, the corrective pullback could extend toward the following support zones:
₹2,55,000
₹2,48,000
These levels align with key Fibonacci retracement areas and prior structural supports.
Upon completion of this corrective phase, the broader setup suggests the potential for a renewed impulsive advance in the form of Wave C, which would complete the higher-degree corrective pattern.
Until the retracement structure confirms maturity, the near-term expectation favours consolidation-to-corrective downside within the broader constructive framework.
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