Silver: Finally Topped Out?

Silver futures start the trading week with extreme volatility, reaching our now deactivated and therefore greyed-out short target zone (coordinates: $116.91 – $130.31).
If a short position was already initiated within this zone, it may now be appropriate to trail existing stop-loss levels.
At this stage, the primary assumption is that only the high of blue wave (y) has been completed within this area. Under our primary scenario, a more pronounced corrective move is considered imminent. We expect the termination of the corresponding wave (x) within our green long target zone (coordinates: $77.19 – $64.67), where we also anticipate the start of the final upward leg of green wave [w].
Alternatively, silver may have recently formed the high of wave alt.Y, while the latest counter-move established the local low of alt.X. This would argue in favor of a direct continuation of the bullish advance within green alt.[w], extending beyond the resistance level at $114.44.