I have silver as a bear market rally with potential support at $16.80, but silver would get there before this wave pattern is finished.
Worst gets to worse if silver falls below $13.50, then this so-called bull market will get confirmed that it was just another bear market rally.
Is gold going to stay in a bull market? I find it hard to believe for silver to break to new bear market lows and gold doesn’t.
Even though I need another Minor degree zigzag on a 5th leg only time will tell when that will happen. On the daily chart, silver has left a beautiful spike behind, and spikes are my sell or buy signals regardless of what wave count I may be on.
I trade Forex silver units on my iPhone and use futures charts to set up trades with, so watching silver is important from my perspective.
I also have a small portfolio and a silver related stock that has soared while silver has been crashing which I was expecting because investors will run to penny stocks as a safe haven.