The CME Silver future trades at $23.71 per troy ounce, after ending yesterday at $23.75.
United States Crude Oil Inventories is next today at 15:30 UTC.
This uncertain state for the CME Silver future is reflected by published market data as United States API Weekly Crude Oil Stock came out at 3.38 million, while a consensus of analysts was expecting 1.6 million. United States 2-Year Note Auction released yesterday at 18:00 UTC with a figure of 4.139, while the previous figure was 4.373. United States Services PMI released yesterday at 14:45 UTC with a figure of 46.6, while the previous figure was 44.7.
Silver's upper Bollinger Band® is at $24.56 and the lower is $23.35.
Despite muted price action in CME Silver, chart analysis indicates it is positioned for a bullish run in the short term.
Meanwhile, mixed performances are seen in other Metals as after ending yesterday's session at $1,066.8, Platinum lost $4.5 and is trading around $1,062.3. Gold is trading around $1,930.8 (down $4.6).
Moreover, United States Core Durable Goods Orders projected to come out at -0.2% — worse than previous data of 0.1%; data will be released tomorrow at 13:30 UTC. United States Crude Oil Inventories expected to decline to 971,000 while its preceding data was 8.41 million, data will be available today at 15:30 UTC. As things stand, upcoming United States GDP data is projected to fall short of market expectations with newly published data of 2.6, following on from the preceding figure of 3.2. New data is set to be published tomorrow at 13:30 UTC.
Trading mostly sideways for a month. The past 3 months have been positive for CME Silver as it added 22.52% compared to its 3-month low of $17.67.