After four days of going down, CME Silver is stable today, trading around $20.81

After dropping down to $20.64, CME Silver recovers some losses and is currently trading at $20.81 per troy ounce.

New United States Pending Home Sales improved upon the previous 1.1% figure while also exceeding analyst expectations with a reading of 8.1%.

CME Silver's state is reflected by market data as highly important Pending Home Sales data from United States beat analyst expectations of 1% with a reading of 8.1%. Data for United States Core Durable Goods Orders published today at 13:30 UTC came out at 0.7%, beating projections of 0.1% and showing improvement over the preceding figure of -0.4%. Following a previous reading of 5.1%, Core Durable Goods Orders in United States released today at 13:30 UTC fell short of the -4% figure expected by analysts with an actual reading of -4.5%.

As the trading day comes to an end, chart analysis indicates Silver is climbing away and is now 23 cents from the $20.58 support line. Trend-focused traders would be interested to note that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. Momentum evaluation shows that the Relative Strength Index indicates Silver is in an oversold condition, which could precipitate a reversal and set up a new bullish phase. Asset volatility analysis shows that the CME Silver future's upper Bollinger Band® is at $22.65 and the lower is $20.75.

With market volatility ebbing, the current technical outlook indicates the CME Silver future will remain range-bound for the immediate future.

Meanwhile, mixed performances are seen in other Metals as Platinum is up 3.78%. Palladium is up 3.46%. Copper added 1.72% to its value, now trading at $4.02.

Data to be released later is expected to clarify investor sentiment while boosting price action volatility as United States Consumer Confidence is projected to outperform its last figure with 108.5. It previously stood at 107.1; data will be released tomorrow at 15:00 UTC.

The commodity has been trending lower for about a month. This year has been a gloomy one for CME Silver after trading as high as $26.89 and going on to lose 14.86% of its value.