I can’t answer that question. I can only show some charts.

First chart is silver log scale chart on stockcharts: Backtest comes in slightly above $17.

Since I’m a bear still on silver you can shoot me because I had to show that one first. It’s the only thing I can hang my hat on where silver is below the neck. Also, the gold:silver ratio is still above the breakout line which still seems bearish silver.

Now for some charts to give you bulls some happiness and me some wondering if my current “bearish silver” thesis is wrong:

Silver Monthly linear from stockcharts above. Silver, at $16.90, is clearly above the neck but below the red line which is important for the bulls.

Now for a Silver Monthly linear from NetDania which is above the neck and testing the red line. First is zoomed out. Second zoomed in:

Silver weekly linear from NetDania is the most bullish. Silver is slightly above both important lines on the weekly as seen on this zoomed in chart:

Good luck silver bulls! Frankly though, I gotta see it close above to really believe it…