TA Spotlight - Silver

While SLV's the short term trend has changed, it remains trapped within the 16.5 - 18.5 trading range. Volume, which reveals the energy behind the trend, must be monitored closely as the upside gap is filled. As long as time still favors a falling dollar, or what F-TV has defined as the carry trade (the same carry trade pronounced dead in late 2009), expect the gap and swing high to be challenged and broken over time.

Silver ETF (SLV):