Covered my $Silver (comex) short position this morning at $15.26 and went long after price hit my measured-move target area.  Using the SLV etf chart below as a proxy, please also note that price appears to be bouncing right at trendline (blue dotted line) support.

This is not, however, a “bottom call”!  I’m not even sure I will hold my silver long position overnight – just depends on the close.  However, the foregoing technical factors along with the fact that SLV has gapped lower to open the week for the second week in a row, leads me to believe the odds favor at least a bounce to fill one or both gaps.

Today’s weekly gap has already been filled…