Traders looking to profit from silvers downside can consider the ProShares UltraShort Silver ETF (NYSEArca: ZSL), which is a double-leveraged product.

SEE MORE: 11 Silver ETFs Outshining the Competition

“At this time, it is too soon to draw any type of bullish conclusions from the current price sequence. For now, we will run with the bearish trend sequence until further developments, and lean towards a neutral to bearish stance. But at the same time, we will be mindful of the fact silver has dropped into an area of long-term support which may overwhelm any short-term price configurations. A break above the upper parallel will be the first step in seeing higher prices, then a climb above 19.20 will be needed from there,” reports DailyFX.

For more information on the silver market, visit our silver category.

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