Bullish sentiment helps propel Silver to 1.35% gain

Friday at a glance: with a daily low of $23.91, the CME Silver future closed Friday at $24.27 per troy ounce, after ending Thursday at $23.95 and gaining 32.3 cents (1.35%).

Technical analysis of Silver's past price action reveals multiple support and resistance levels: Silver is 13 cents away from testing key resistance at $24.4. Peaking above this level could inspire market bulls and open the path to further gains. Concerning technical analysis and more specifically, trend indicators, the CME Silver future made an initial breakout above its 10 day Simple Moving Average at $23.96, a potential indicator of a newly emerging bullish phase. According to asset volatility analysis, Silver's upper Bollinger Band® is at $24.54, this is a slight indication of a slowdown.

Overall, while 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 Palladium ascends 0.98% Friday and closed at $1,397.3.

Meanwhile, after ending Friday's session at $3.9, Copper lost 2.15 cents and is trading around $3.88. Platinum lost 0.37% Friday and closed at $996.3.

The CME Silver future has fallen back around 9.12% from the significant high of $26.35 set a month ago.