It is interesting:

The bid size listed on the ECU quote is 3,500, but the ask size is 53,500. I would guess that this could be traders that got in in the latest bouts of sales in the .40's trying to capture a specific number. It sure doesn't look like shorts trying to cover to me.

The good news is that people do not seem to be dumping in light of the 4% down move in silver.

I see some positive signs here, but no indication of a move in the near term until we clear all those asks.