While the chart of silver does not show gaps and is breaking bullish (having taken out the key 22 area resistance once again)…
…the chart of SLV shows a gap right at the resistance silver is bumped up against right now. Regardless of whether or not SLV’s parent, the silver price, shows a gap or not, this was a point of emotion as SLV spiked, reversed and gapped down on February 3rd. I am not calling for a correction, but I am noting that this is a critical area. Silver is either going to bust bullish by taking out the high (24.77 per the chart above) or pull back to at least test the 22 (+/-) area as support again. If it does pull back, I would not rule out the SMA 200 at 20.98 on the chart above.
