SLV is in a currently in a downtrend and below the 20MA but still within the long term channel 1 uptrend. If the short term trend continues, look for SLV to hit the bottom of channel 1. If SLV breaks channel 1 that would be bad news for the bulls
Everyone on CNBC/Bloomberg after the close were extremely bearish on Gold and Silver. ...All calling for new 2 year lows already. Might end up being a crowded short trade and hold the reference channel you presented. If so, time to leverage up because both and including some miners would be great squeeze plays.