At the Quarterly level we can see in more detail the time frame of the projected bottom.
You can see the how the prices hold the bigger fracta median lines, notably the solid gold line in the center off the top, then above the Q123ML until prices dropped through and are hanging on. Prices have also so far been unable to break out above the monthly MFML (dashed red median line). The Q012WL-1 has provided support which if 13.10 fails the gap down to the yearly MLL will be filled, and if a large panic occurs it is likely that the YMFMLL (bottom dashed black line) will be touched to make the low. If prices do this it will set up the greatest buying opportunity for many years to come on a long hold position which will make new all time highs.
As prices are following down the MML described above, this indicates an overbought position and is likely to repeat a similar pattern to Q3/4 2014 to fill the gap.
The support levels and expected bottom in silver is in the gold oval. Early bottom can be expected this quarter, around $7.90, $7.95 in Q2 is the most likely early completion of the low, with the ideal wave projecting a Q3 $8.00 low. Late bottom to this correction would be before end of Q1 2017 around $8.15.
Should we get a nice wash out panic low to shake all the remaining monkeys out of the tree it will be around $5.40.