Silver Range Bound

The good news - Silver is again above $20. The bad news - it is caught in a struggle between support and resistance levels. Gold's little brother is currently trading at 20.04 after hitting resistance three times since the beginning of July. Silver also went to support for a very brief period of time at 19.23 and 19.52. 

In order for the bull run to continue, bulls need to push the price of Silver above 20.40 which is seen as the next support level. If they fail to do this, then bears will take over and depreciate Silver to prices below 19.60. 

Consumer price index is expected today which may cause mild volatility in Silver. 

Chart: XAG/USD D1