We had anticipated a sell if the trend line is broken. While it did break the trend line, the pullback was sharp and a close back inside the trend line with two decisive engulfing candles. Although the short trade was a short term corrective trade anticipation. Our overall bias has been long the silver and buying pullbacks. This move could give us another opportunity to add to our existing positions or create a new long.
We will wait for corrective structure before going long.