In trading on Monday, shares of the ETFS Physical Silver Shares ETF ( SIVR) entered into oversold territory, changing hands as low as $16.37 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30.In the case of ETFS Physical Silver Shares, the RSI reading has hit 28.1 — by comparison, the RSI reading for the S&P 500 is currently 60.4. A bullish investor could look at SIVR's 28.1 reading as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. Looking at a chart of one year performance (below), SIVR's low point in its 52 week range is $13.43 per share, with $20.30 as the 52 week high point — that compares with a last trade of $16.42. ETFS Physical Silver Shares shares are currently trading down about 3.3% on the day.