26.50 is clearly support on Silver. And like the word says "Support is Support." Can't really argue with it. No guarantee it will hold each and every time tagged but this is an important support level so if tagged it will likely bounce even if it doesn't hold for long. And resistance is the short downtrendline at 31 and the Nov low breakdown point that also goes back a long time as a significant price point. It is also the 20ema. When price 'TRENDS" you will typically see price respect the 20ema and use it as support in uptrends and as resistance in downtrends. Check out some charts to see this. I use the 20ema and 50ema and the trend of them both typically sees price stay within these lines 'basically'. Note how 31 is also the early Jan/11 price high that was finally cleared in Feb but broke down in Sept. Very odd for Silver prices to breakdown in Sept as that is historically the best month of the year for Silver hands down as a rule. The seasonal trends for precious metals are really out of whack the last several months. I would only buy the double bear Silver ETF: ZSL 'if' price tagged the $31 resistance area and would dump it if price tagged the 26.50 area support. Trying to make a trade in the middle would likely end up being a losing one. And if price cleared 31 and held I would also bail outl. Silver can be volatile.
As far as the double bear Silver ETF:ZSL goes keep in mind these double ETFs are for very short term trading 'only' and will erode in value much like an option even if correct in direction unless you are very very right with strong price action. See how last Feb for every 4 shares you had they gave you 1 share back to avoid the ETF going to zero. Something to keep in mind. Many traders kept holding this ETF and went broke.