After closing the previous trading day at $26.23, CME Silver is up to $26.32 per troy ounce, which makes for a move of 0.35%/9.3 cents today.
United States Unemployment Rate data will be released today at 12:30 UTC, with an expected decline to 3.6.
Nevertheless, United States Initial Jobless Claims published yesterday at 12:30 UTC came out at 242,000, falling short of the 240,000 projections and continuing its decline from the previous 229,000 figure.
Meanwhile, United States Fed's Balance Sheet released yesterday at 20:30 UTC with a figure of 8.50 trillion, while the previous figure was 8.56 trillion. Fresh Reserve Balances with Federal Reserve Banks data from United States came out at 3.17 trillion.
Trend-focused traders would be interested to note that investors are seeking long positions as Silver price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. Momentum evaluation shows that the Relative Strength Index indicates the CME Silver future is currently 'overbought' which suggests new gains will be harder to obtain. Asset volatility analysis shows that Silver's upper Bollinger Band® is at $26.2, this is a slight indication of a slowdown.
Overall, while CME Silver has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
A look at other Metals also shows upside as Platinum is up 0.43%.
Also worthy of note, United States Non Farm Payrolls projected to decline to 180,000 while previous data was 236,000; data will be released today at 12:30 UTC. United States Unemployment Rate projected to decline to 3.6 while previous data was 3.5; data will be released today at 12:30 UTC.
Having soared to a high of $26.35 approximately a day ago, Silver is now trading 0.47% lower.