SLV Update $38.94 the key to the trade?

 Here I've drawn a support/resistance trendline, based on the tweezer bottom support at the EOD of 7/18, this appears to be an important level.

 I backed the chart up a bit so you can see the volume surges, because we just had a volume surge that makes these look very small. You can see volume surging into resistance and on a break of resistance.

 Here I rolled the chart forward a couple of bars and you can see the most recent spike makes the former spikes look tiny in comparison. It is interesting that there's such a huge spike on a candle that really has gone nowhere except to hold support.

3C 5 min shows a negative divergence above resistance. If SLV falls back below this trendline, it's likely that the move in silver will have failed. I'd expect a little more upside if they are indeed setting a bulltrap as the break needs to be convincing, but perhaps that volume surge was the conviction they look for in a bull trap, or perhaps it is simply someone expending massive amounts of cash to support silver, either way, I think we are looking at the line in the sand.