I was expecting silver to bounce early this week.  I think we could have a couple of more days of upside before it drops back down to test the 200 DMA.

Really, the key indicator for me is the daily MACD.  If we can cross positive, that will be the overriding indicator that a bottom is in.  In that case a test of the 200 DMA may not happen and perhaps we have seen the low.  However, I am more inclined to think we won’t get that positive cross this week and will instead head back down later this week or early next week to test the 200 DMA.  From there I am expecting a massive rally.   The FOMC is coming up on the 19th iirc, but I don’t expect to have to wait that long for a turn.