CME Silver has been up for five days in a row, gaining 11.8 cents to reach $22.

After closing the previous trading day at $21.88, CME Silver is up to $22 per troy ounce, which makes for a move of 0.45%/11.8 cents today.

The CME Silver future is currently trading at $22 following the release of Building Permits (Feb) data from the United States.

Trend and momentum analysis indicates that investors are seeking long positions as Silver price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. Analysis based on the asset volatility indicates that CME Silver's upper Bollinger Band® is at $22.22, this is a slight indication of a slowdown.

Notwithstanding Silver's appreciation in recent days, the technical outlook suggests its bullish run is now fading.

This year has been a gloomy one for CME Silver after trading as high as $26.05 and going on to lose 10.08% of its value.