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1650 continues to hold. It is an important test, breakthrough would continue the downtrend from October highs. If it continues to hold it would signal (to me) consolidation in advance of another test of 1800. There is a good chance we either see a long rounded bottom or a sharp spike down. Given that, short is the high percentage play (and supported by other technicals).

Been playing with Ichimoku clouds. I admit that I don't understand them, but they seem like a reliable forward indicator in metals in the few small surveys I've conducted.

unnecessary disclosure blah blah: re-established my SLV short on the 25th.
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