Trades,

I was looking at the July silver chart today looking for some clue on whether the down move might continue, and if so when. I remembered your long term 1980 chart you posted and dug it out. I know nothing repeats exactly, but it starting to look awful familiar.

I noticed in 1980 after the drop from 50 to about 33 there was a rally to just under 40, a drop to slightly new lows, and then a rally to about 37.50 before the resumption of the down move. This topping pattern shown in your chart looks to be about 2 months in duration. Looking at the July chart we dropped to about 33, rallied to about 39.47, dropped to a slightly new low, and have since rallied again to as high of 38.85. As we move into June it will be getting close to 2 months in duration.

I don't know if you can do a overlay of the 1980 chart in your post with a chart of the July contract to compare the topping patterns. It would be interesting to see.