SLV Update

IS THE BATTLE LOST FOR BLYTHE MASTERS AND JPM?

That's the question when looking at Silver.

 Here's the daily on SLV , note the very parabolic move in SLV most of which occurred or at least started as the US markets were closed Monday. Right now we have two daily candles that are not impressive.

 The hourly chart shows a large zone of accumulation before the run up, on the hourly the run is still confirmed, but....

 The 15 min is already showing negative divergences. It would not be uncommon for a pullback after a run like this, however, when talking the battle of silver, a pullback can quickly turn into a head fake false breakout as we have seen several times in the past.

 The 10 min chart is also showing a very negative divergence so I'd expect at minimum a consolidation, more likely a pullback and there's the off chance that SLV falls below the breakout level, which would create a significant sell-off.

The 5 min chart, also negative.

This is a trade worth watching. If you are inclined to be long silver, a pullback would set up a great buying opportunity. If this goes the other way and turns into a bull trap, the resulting snowball effect sell-off will bring silver down hard and fast. Waiting and watching are the only thing we can do right now. However, be aware, maybe set some alerts for price breaks.