The CME Silver future is growing its four-day winning streak by closing at $25.34, gaining 12.6 cents.

A quick look at yesterday: generally flat but with a slight bullish bias, the CME Silver future ranged between $25 and $25.35 before closing higher at $25.34 per troy ounce.

At the same time, United States Core PCE Price Index (MoM) (Mar) released yesterday at 12:30 UTC with a figure of 0.3, while the previous figure was 0.3. United States CFTC Crude Oil speculative net positions released yesterday at 20:30 UTC with a figure of 236,400, while the previous figure was 244,600. United States CFTC Gold speculative net positions released yesterday at 20:30 UTC with a figure of 185,300, while the previous figure was 189,900.

Silver could be slowing down soon as it approaches resistance at $25.45. Of course, crossing it might suggest further gains are ahead. Despite posting gains on yesterday, Silver slid below its 21 day Simple Moving Average at $25.14 during the last session — an early indicator that a negative trend could be emerging. Bollinger Band® analysis indicates that current price action is approaching the upper band at $25.74, thereby suggesting that Silver is becoming overvalued.

After posting consistent gains as part of its uptrend and being lifted by intraday sentiment, technical factors suggest CME Silver is set for a reversal in the coming days.

Over the past 16 days, CME Silver has retreated 2.91% from a noteworthy peak of $25.96.