Weekly Silver Report

Although it may not feel like it, silver remains in an UPTREND. An UPTREND is defined as a series of HIGHER HIGHS and HIGHER LOWS.

Currently, silver is in a "pullback" phase after a nice run up. If silver dips below the prior low of $24.42 then and only then will the UPTREND be negated.

Just "eyeballing" the charts it appears that silver is retesting the last break out price level which was around $25.80. The low on Thursday came in at $26.26, so there remains a potential for silver to slide a little lower during the "pullback" phase.

source: JM Bullion

The premium on American Silver Eagles remains at around $7 per ounce.

Peace Out and Stack On!