From a technical view, the ETF is bouncing off its lower Bollinger band which is rising now. Regarding technical indicators, the weekly RSI is still neutral after the upside breakout of a bearish trend line in July 2013. However, the 20-week moving average is rising and maintains upward momentum started in July 2013. On a relative basis against the IVV S&P500, the iShares Silver is pushing above a declining trend line and looks set for a rebound.
Trading strategy:
Buy at $19.08 - Stop loss at $17.70 - Target at $23.85.