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Has Silver hit a floor?

Has Silver hit the floor?

Yesterday I said the Silver options market was hinting at it. Now it seems the futures markets are also hinting at it (refer to 2 day 3 minute charts attached).

So why would Silver be hitting the floor? As an industrial metal, silver demand should be plunging with Covid-19 shutting down economies. Furthermore in past gold and silver bull markets, gold usually leads and silver lags until the final part of the bull market.

There are 3 possible reasons:

(i) The Gold to Silver ratio is so out of proportion that people think Santa Claus has come to town.

(ii) Gold has become too expensive and priced ordinary people out of the market. So they only have the silver left to turn to.

(iii) There is a huge super cycle coming up for Silver. Climate change is a big problem. The world is shifting away from oil, gas and coal to solar, wind and Electric Vehicles. Silver is a super conductor and a key component in these.

Prior to Covid-19, all major car manufacturers were bringing forward and ramping up all their EV production plans. This year for the first time in history Europe generated more power from renewables than from non-renewables. 

So with these in mind, if you were a silver buyer what would you do? 

Charts below are 2 Day 3 minute charts (each bar represents 3 minutes)
/GC = Gold Futures Price
/SI = Silver Futures Price
/PL = Platinum Futures Price

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