Silver Daily Chart Bearish Review

The silver market has trashed all the easy short term bullish wave counts and this morning is at another spike and record low.   Silver has been walking to a different drummer. A new  low in silver has just hit the $15.20 price, and now has started to advance.  From the peak silver has also retraced a bit more than a net 61%, so if a rally is going to start, now would be the time.

Any other type of a move would put the silver bear market in a zigzag decline. We would still need a 4th wave rally now, then followed by another decline to new record lows.  Since the entire bearish phase is extremely choppy, then the decline should  eventually get completely retraced.