It's not that I believe this is a bottom, but there is a possibility for a bounce upward. I know this might sound a contradiction but there's a 60% chance it continues down and 40% chance it bounces. I needed at least 67% chance on my short to remain short.
I close the remaining short if it gets back above $23.27
I will go heavily long if it gets back above $23.515 for more than 5 mins.
What sucks is that the daily pattern in silver was very strong, still is, and it only needs take out 26.00 to kill the bear started in April
the best silver has done all day is $23.965. For 6 hrs it has remained within about 12 cents of the trigger price. This is usually negative meaning price downward Sunday night, unless it can somehow get above the $23.98 before days end.
Even if it does, I'm less inclined to participate because of how long it's taken to make a move that only required 10 to 12 cents to the upside. The best play is now to short it