The relationships between and among these things are not especially easy to discern...but IMO, this one is fairly plain.
Be careful with silver, that is my take. IMO, $35 is an interim *TOP* not a bottom. There no hurry to reload here. None, zero. The chart on silver is very bearish, but I acknowledge that (amateur) sentiment is pretty bullish.
Needs time in rehab, I can’t express it any simpler. There is chart support at 31 and 28. There is only “round number” support up here at 35. No professional silver investor that I am aware of bought in any quantity over $35...and maybe even $30. They simply could not believe it. Oh, I confess, I bought 20 silver dollars at roughly Ag = $40 just to get some buying ya-yas out, but that is miniscule compared to what I own.
Silver needs to do its thing of boring everyone to death before it makes its next move, or at least its next UP move. There are so many stranded longs...IMO, there will be no upside until lots of that dissipates. There is nothing that will change that other than the passage of time.
I'm done buying for a while any way regardless what prices do.
I'm all 'stashed' out.
BTW, get you a few nickels while they're still cheap too.