Silver continues to trade in a defined range between $22.14 on the low end and $25.42 on the high end. The longer silver stays within the range the higher the likelihood of a major move once the range is broken.
The key is which way will silver move, to the upside or to the downside? Until the range is broken there is no telling which way silver will move, thus silver remains in NEUTRAL.
The Weekly Chart shows the range far better than the daily chart.
Weekly Chart
source: JM Bullion
The good news of late has been the reduction in the premiums on physical silver. The premium on American Silver Eagles is running around $6.40 per ounce.
Peace Out and Stack On!