With silver heading to a break down or break out decision in the coming weeks and with its price down hard today, those bullish on silver and looking for buying opportunity could be buying today. It is hard to buy silver now, and that is probably the point.
For documentation purposes, I am going to call this a trade in SLV, at a price of 18.40 (at last check). For my part, I am taking a shot with some call options. Outright purchase of silver, SLV or any of the variants would also apply to this general trade.
SLV Buy Target: Current price of 18.40
SLV Sell Target: To be determined at some point above the breakout line
Stop Loss: A failure to break out and instead a break down from noted support (sub-18 on SLV)
Note: Trade closed (personally) on 5.2.14 as advised in an interim update, due to hard spike in silver apparently due to Ukraine tensions, which are not a fundamental consideration. A small profit was realized from the equivalent of SLV 18.40 to 18.77.