Conversely, if SLV violates a double bottom formation at $18, the ensuing selling pressure could come in “wash out” fashion, sparking ZSL above resistance in the $93-$94 area. From there, ZSL could mount a credible challenge to its 52-week high at $116.25.
ProShares UltraShort Silver
ETF Trends editorial team contributed to this post. Tom Lydon’s clients own shares of SLV.