Many believe that silver is going to outperform gold. Right now gold is leading, with silver still trailing far behind. I don’t see the big deal as silver failed to perform compared to the 1980 peak and the 2011 peak.
When I turn the settings to line type, then that huge 1980 spike turns into a $35 spike. About $13 disappears when switching settings.
Silver is a prime example of what diagonal waves can look like as the 1990 bear market had many overlapping waves followed by a bull market after the 2001 bottom.
More spikes formed during the 2002-2011 bullish phase which was also a “C” wave bull market.
Then in early 2011 silver peaked and then started a 4+ year bearish phase that looks like a 5 wave decline at this time.
That bearish phase ended in late 2015 and silver exploded along with gold. I’m sure more silver upside is still to come even though silver is dragging its feet.
The commercials made bearish moves last week but it seems they can handle much more as this bullish phase progresses.
Somewhere silver will start to extend and since wave 1 is a bit short, this could force wave 3 and wave 5 to extend. I’m not too concerned which one will extend because the bullish phase will end when all the experts start calling for $200-$500 silver again! They have been calling for $200 silver since the 1970s and the silver price has never hit $200!