One reason that not too many wave analysts work on silver as it just does not play well with gold. It is a difficult task alright as the choppy waves overlap dramatically.
When that happens then diagonal wave structures are in force like they are in “All” commodities. Silver didn’t even get past the Aug 1, 2016 high of $20.76, while gold left silver in the dust!
Last weeks spike peak which I look for are my sell signals, regardless of how they might say silver will go to. Catching up to silver seems to be the battle cry most of the time, but the same thing happened at the 2011 peak. I have returned to silver as a 4th wave rally which I have used for some time before.
A new zigzag should form but that impending zigzag should take out all double bottom support. Just by dropping down one degree pushes any “A” wave in Primary degree into the future in the next year or so.
Any drop in the silver price below $13.50 would confirm that silver was just a bear market rally. All silver needs to do is drop a bit more than $6 from today’s highs.
From 1980 to about 1999 silver was in a 19-year bear market, so don’t expect a 10-year bear market to finish a Cycle degree bear market just yet.