Cashier's counters in China literally say PAY SILVER HERE and it reflects a time when silver was more valuable than gold. In commodity markets silver offers greater leverage than gold and the current developing precious metals breakout is most profitably traded with silver.
Silver tends to lag the gold price behavior so this means traders can watch how gold develops, and then trade the same, but delayed, move in silver. After falling to $15.80 the silver price staged a good rally to $18.50. This delivered a 17% profit compared with the 11% profit from the similar rally in gold.
It's the pullback and rebound that now provides the longer term trading opportunity with silver. This price activity takes place with the environment of bullish Guppy Multiple Moving Averages indicator relationships.
This breakout is confirmed with the GMMA. The long term GMMA has compressed and is turning upwards. This generally shows investors are changing their attitude towards silver. The short term GMMA moved above the long term GMMA and then tested the long term GMMA as a support feature before again turning upwards. This is classic rally, retreat retest, and rally behaviour that often precedes the development of a longer term sustainable uptrend.