The INDEX is giving a strong sell signal for silver . When commercial is selling heavily, large and retail are buying heavily. Commercial is currently at 0, large is at 98.92, with retail at 100 When Commercial is selling with large and retail buying, silver 2011- to date has sold off.
60% correction is out of question but 24% could happen. At this moment don't look even possible.
Silver going back to year 2004 has found a low in january and staged a rally that can last into may. However, march and april have been topping months for silver. Since 2011 highs, if silver closes green for the month, this would be the longest month rally in 5 years.
I would not be selling silver at current prices. Yet if silver traded back up to the top trendline, the RR setup with a tight stop is good imho, if COT is still piling on the shorts.
On gold, looking at the weekly chart. Using the CCI setting 20, Gold is at an extreme where it has topped out for the year 2011 thru 2015 with a minimum of a 10% correction. Maybe this time it does not workout where its different. I do not know. However the rr if price makes it back up to highs on silver is good for a short looking at seasonality.