It’s been a couple of years since spot silver crossed back above its long downtrend line. Last week, silver popped over its 200 dma. The bulls are gaining some technical chart advantages.
SLV has come off of a bottom and is trending toward the long line of resistance that began with a top on April of 2011. I expect this downtrend line to initially stall SLV. After the price point moves above the trendline, the April 2013 pivot low of 25.17 should get filled.