Silver is ticking higher but there is a three wave bounce from 17.70 area that we see it as wave B) so recovery can be temporary. That said, the upside can be limited today near 18.10-18.20 from where we expect a new leg down; drop into C) wave; final leg of a corrective set-back which went underway last Friday. Our view remains in play as long as 18.44 level is not breached.

SILVER, 1H