The signal is from the fact that silver consolidated around the $19.25 level for 9 weeks (start counting on the week it hit its high) and then accelerated down from that mode at $19.25 and has now FALLEN FOR 9 WEEKS (as of last Friday). That means that the 9-weeks of distribution that happened up top there have been confirmed with 9 weeks of additional downside movement.
The signal is also from the point that Silver didn't drop as much as it should have. How do I label that? By looking at the price range of trading around the range expansion decline (marked by a the first yellow triangle) and note it should have fallen by another equal amount within 3 weeks, but it didn't make it. Therefore the market is "out of time" and "holding relatively strong".
Upside target is for a move back to the mode at $19.25 within 9 weeks.
Use all of the techniques to add to this position over time as the market confirms that it is indeed in an rebounding uptrend.
Tim 1:43AM EST 12/7/2016