$SLV trading into 50 DMA I discussed an SLV short

$SLV trading into 50 DMA

I discussed an SLV short in an earlier post, but did not take a position because I did not get the setup I was looking for. I wanted a retrace a bit higher before taking a position.

Today it gapped down and is currently trading into the 50 DMA. If anyone happened to take a short on this position, this would be a good area to lock in some profits. I am going to stick with playing this was as a day trade for a possible long bounce if it can get into the 31.29 area with the right pattern.

I hope it can get a bounce into next week for the swing short setup I am looking for, though, as this one should really move quickly on a vertical drop once things get going.