Daily silver chart below. The pink box is where the C wave...

Daily silver chart below. The pink box is where the C wave equals 1.618 extension of the A wave and coincides with the bottom of the uptrend channel that silver has been following since Feb 2024. We appear to be getting a bounce from this area.

The RSI has also hit the lower support that silver has been respecting since entering this uptrend channel. The MACD has negative divergence, meaning price has not made a lower low to confirm the MACD. This could mean that we get a decent rally to at least touch the dotted middle uptrend line before making a lower low which would create a positive divergence in the MACD. If this was to occur, then the ABC correction you see on the below chart would be only the A wave of a larger ABC correction and we are currently rallying in the B wave up before completing the larger C wave bottom. The B wave target should be in the $30.70 to $31.15 zone which is the 50% to 61.8% fib retracement. The B wave could rally as high as $31.70 but a break above $31.70 could be an early warning that silver had already bottomed.

If we assume that the ASX stocks should bottom before June 30th, then the fact that PM's are rallying in either a bounce for the larger B wave or from a bottom would suggest that the PM stocks are either extremely close to a bottom or have already bottomed.