Yes, it seems like the bulls are getting ready to attack!
IF the silver price overcomes the 23.6 % Fib level and 50's MA with a sustained close around 23.30 USD, it would be time to fasten your seat belts.
IF XAG/USD doesn't overpower this critical resistance area and is making a move to the south, I would take another short trade into consideration. But this situation needs to be re-evaluated.
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Alright - the bulls are in charge now!
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So, textbook-like correction. Looks like the local low is in. If the support holds we go from this sideways and up, up and away ... ;)
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After the SMA 200 got tested and rejected the price it's dropping hard. Your SL should been hit already if you were long. ATM it's on the point of decision: If the 23 USD fails to hold the price - the former low will be challenged. And also a drop further is then still on the table. So take care. If 23 USD gives enough support it could be an inverse SHS chart pattern which is a very bullish sign for silver ...