I am not an Elliotician by any means, but I did give a try at counting silver's 1-5 corrective wave (A). What I concluded was a 5th wave failure, for both Major and Minor 5th waves. 5th Wave failure's often than not have very quick B corrective reversals. If we take both, double eve-eve bottom pattern, idea of a 5th wave failure, and the multi-year support breaking the weaker descending resistance, we have a very good chance at seeing a breakout in the very near term.
I did place two variable breakouts. Silver could breakout tomorrow, given we are very near the bulls support foundation. We could also hold-off a few more weeks and tighten up even more until we reach the point of intersect, where something has to give. I also noticed that Silver has been running a descending parallel fib channel (even more pronounced on the XAGUSD chart). These Fibonacci channels could be future lines to look for if and when we breakout. I additionally added fib lines with fib extension/retracement from the previous low (our foundation at $18.25) and our shelf high ($19.85). Fib extension/retracements can also serve as areas. These fib lines will help us, if we want to look for new entries or exits.