Looking at the silver spot price chart below one can see that since the low on March 11, 2015 the silver price has been moving from the lower left hand side of the chart to the upper left hand side. The last few months have been frustrating for the silver stackers but looking at the bigger picture it looks like the silver prices is definitely bottoming at present. Notice how the low at $15.30 in March was surpassed by the low on the 24th of April at $15.60. It looks like the low on 11th of June at $15.83 will be the new higher low and as can be seen from the chart we could see the price test the $18 mark sometime in early July 2015.
The interesting factor for silver will be to watch if the momentum of the next leg up will take it through the key $18.47 high we saw earlier this year in January. Could the speculators that have been heavily shorting silver futures in the last week be forced to cover their massive short positions? The next few weeks could be very interesting for the silver price.