Trend Reversal :
As denoted by the labels on the weekly chart below, Silver should have concluded its five-wave sequence ((A)) which started on April 2011. Subsequently a corrective sequence in medium term, as Primary-degree wave ((B)), could have begun its trend to the upside.
Silver recorded the mid-December low at 13.62 as a significant extreme. The price is challenging the upper channel line, and closing above that would indicate the trend change to bull in medium term.