Bullish the CME Silver future runs out of steam at $22.77; currently at $22.75 per troy ounce

Friday at a glance: CME Silver explodes 4.88% to close at $22.75 per troy ounce Friday.

The Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. Silver has just crossed its upper Bollinger Band® at $22.42, suggesting further gains could be on the cards.

Overall, looking at the technical analysis landscape, it seems Silver might continue pointing upwards in the short term.

A look at other Metals also shows upside as Gold explodes 3.68% Friday and closed at $1,923. Copper added 0.79% and closed around $3.86 Friday. Platinum moves up 0.43% Friday and closed at $978.8.

The current year has not been the best for CME Silver as it lost 10.16% from its highest point of $26.05.