When we looked at silver back on 11/21/20, it was in a weekly triangle consolidation. Since then it broke bearishly into it’s intermediate cycle decline.
Silver is in the process of forming a bullish weekly engulfing candle. This will ease the parameters for forming a weekly swing low. Once silver forms a swing low and breaks above the declining weekly trend line it will begin a new intermediate cycle. Gold already broke out to new highs during this last intermediate cycle. It’s time for silver to follow suit.