Next week could involve a decent shake out event in the metals.  This week’s action looks like nothing more than fugly bear flag action after a waterfall decline.  Typically the bear flag represents a half way point on the way to hell.

If we are to get a major rally, I imagine the shakeout that precedes it could be very scary.   If such a move does play out, I would want to see a large reversal by the end of next week or the week after though.

We’ll see I guess.  I am still firmly in the camp that we are in midst of a 1-2 year consolidation and that we have at least a few more months of sideways to down grind before it reverses and we finally break out in the fall or winter of 2021.  I’ll gladly take a move to $50 in silver starting now though. 🙂