Silver has been in an accelerating bull market since lows in the fall of 2008. Currently it looks to be in Minor Wave 5 (red) of Intermediate Wave 3 (purple) of Major Wave 3 (blue) of that bull market, so there certainly appears to be a lot more upside potential over the coming months.
SI - daily
Minor W5 looks to be only partially complete. Since the Minor W4 low on Jan 27, a Minute W1 & W2 (green) can be counted, with Minute W3 in progress. Minute W3 is extending, with Micro Waves 1 through 3 (black) done and Micro W4 in progress. If this count is correct, there should be a continued strong upsurge for a month or two yet. There are alternate counts here which are less bullish, but the surge over the last week supports the more bullish scenario presented below.
Silver - hourly
