Is it the end of Silver's rally? After four days of gains, it is down by 0.74% today

The CME Silver future is down to $21.76 per troy ounce, after ending yesterday at $21.92. Overall, a 0.74% loss or 16.3 cents today.

United States Consumer Price Index is next today at 12:30 UTC.

Meanwhile, United States Participation Rate (Feb) released yesterday at 13:30 UTC with a figure of 118.3, while the previous figure was 62.4.

With regards to technical trend indicators, chart analysis show that investors are seeking long positions as Silver price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. Asset volatility analysis shows that the CME Silver future's upper Bollinger Band® is at $22.18 which indicates a further downward move may follow.

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

In the meantime, negative performances are also seen in other Metals as after ending yesterday's session at $4.07, Copper lost 6.95 cents and is trading around $4. Gold is trading around $1,907.6 (down $8.9). Palladium is down $18.7 from the beginning of the session and now trades around $1,458.

With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as tomorrow at 12:30 UTC data for United States Retail Sales will be released, with an expected decline to -0.3% from the preceding figure of 3%. United States Core Retail Sales projected to decline to -0.1% while previous data was 2.3%; data will be released tomorrow at 12:30 UTC. Projections for United States Producer Price Index are set for a continuation of decline with 0.3% while previous data was 0.7%; data will be released tomorrow at 12:30 UTC.

This year has been a gloomy one for CME Silver after trading as high as $26.05 and going on to lose 10.06% of its value.