Moving the trend line accordingly to the drop in July last year and we see it will not go lower than 15.100, and will likely rally to the 17 level soon.
I do believe that silver is very undervalued and that by the end of 2018 it will trade over 20$ per ounce.
Just my observation, MACD also at a all time high.
4 hour MACD also starting to look bearish.
First the Elliot Impulse trend wave, then now we are at the end of the Elliot correction wave and it's time to rise again.
Elliot Pulse Wave analysis of BABA.