I could be incredibly wrong, but, I believe that we are on wave E in the elliot wave triangle for silver. I believe silver has stumbled into a pennant formation and can be primed for huge gains after it breaks out. It may follow the previous flag post drawn from the bottom of the pennant formation. Although I do not personally trade silver I may take small LEAP option position on silver very soon. I just wanted to share this thought and dont think it should be traded without caution. The alternative theory is complete reversal and start of a bearish downtrend. Come on, in today's market when has this alternative panned out.