SILVER on the way down to $12

Silver almost reached $50 in ... 1980, next time it reached that level in 2011. I consider entire period started from 1980 as s flat formation with legs A nd B completed and wave C (which should have 5-wave structure) started in 2011. Sub-wave 1 of C seems completed in 2015, after which we would normally expect a zig-zag with ~61% retracement, notice that level was almost perfectly touched in 2021, i.e. wave 2 of C is most likely complete already. That means it is quite probable that we are in wave 3 of C at the moment with initial target around $12 and ultimate target around $3.5

Closing under $23 will confirms that Silver is in the down-trend.

This position sounds crazy while everyone is talking about debasing currencies... But trillions printed since 2011 did not trigger
precious metals (including gold) to break through or get away from 2011 tops. May be the people talking about shortage of $ in the global system are right...