To my long time silver friends, why Silver is more likely heading to $46 before turning bullish again. Silver blow-off moves take a lot of time to retrace and rebuild a base. And often the last weekly cycle from the blowoff phase has to be retraced, in this case to $46. From a trend perspective, this remains an intermediate time frame retracement from the January blow-off move. The arrows show the corresponding gold Cycle highs/low, which are in decline. And the next weekly cycle low is not due until the end of 2026. From past experience, Silver in a bull market offers one of the best opportunities to post significant portfolio gains. It's because when it goes into a parabolic advance, it's generally just one relentless and straight move up, allowing for good positions to sit tight in. But those parabolic moves are short-lived (6 to 12 months) and then it takes a long time for another such environment to build. I feel strongly that Silver will go through another such environment in the near future, but know that it's always a process.