Bearish Count Of Which To Be Aware

As promised, as soon as silver provided me with a potential bearish count, I said I would notify everyone via an update.  Yesterday, I noted that the 17 region had to be taken out strongly for silver to continue higher on its way to at least the 18.50 region. 

However, I have to also note the alternative count in red, which would become MUCH more likely on a break down below 15.82.  While it is clearly not my preference based upon my main bullish bias for the next month or so, it is something that you must keep in the back of your mind, should silver break strongly below 15.82.  Ideally, we should see a 5 wave move down for wave i of 3 to confirm this structure, but I just wanted to provide advance warning, since I have not provided any bearish alternatives for quite some time.  This one stood out to me today.  But, again, as long as we are over 15.82, it is an alternative.

Silver 144min
Silver 144min
Avi Gilburt is founder of ElliottWaveTrader.net.