Weekly Silver Report - The Churn

Welcome to the "churn" in the silver market.

It seems that although silver remains in an UPTREND, neither the bulls nor the bears are in charge.

An UPTREND is defined as a series of HIGHER HIGHS and HIGHER LOWS.

In order for the Bulls to take control, silver must break above the prior HIGH of $29.91 per ounce.

In order for the BEARS to take charge and reverse the current UPTREND, silver needs to break below the prior LOW of $26.26 per ounce.

source: JM Bullion

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