Off that low it produced a promising looking rally.
We could count the top made in August 2020 as wave 3 up.
Then it turned down and I stated to track a corrective decline in what could be considered a micro wave 4 down.
Bulls had at least couple of opportunities to turn silver up (see the blue circles on the chat).
But then in August 2021 bears managed to make a lower low and in September they pushed silver even lower.
That huge corrective structure can not be considered a “micro” wave 4 anymore.
We never got a five wave up move off the March 2020 low.
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