We keep prospecting looking for a trend in the silver market and despite silver's gains today the shiny metal remains stuck in NEUTRAL.
As I see it silver keeps trading in a very narrow range somewhere between $22.25 and $25.50. A range that has been maintained since May of this year. Neither the Bulls nor the Bears are in control.
I suspect that when this range is broken a very powerful move will follow. The only question is whether that move will be to the upside or the downside.
source: JM Bullion
The premium on American Silver Eagles remains relatively steady around $6.50 per ounce.
The most important chart in the world is the yield on US 10 Year Notes that vaulted higher this week after the Federal Reserve announced that interest rates are likely to remain elevated into next year.
Peace out and stack on!
