The Elder Impulse Daily and Weekly Silver Charts

6 Month Daily

The daily Elder Impulse System chart is showing the market has been in balance for the last six trading days. Traders are currently divided and stagnated by the possible outcomes of the ongoing US debt ceiling debate and what that those outcomes may mean going forward.  Even still, the silver price has slowly been bid up this week, while volatility eased in anticipation of politicians doing their job.  Standard deviation saw more than a 50% drop from the higher swings experienced last week and ended the week at 0.68 on the daily and 2.16 for the weekly.

Weekly Elder Impulse

The weekly chart shows the bulls in control every week this month, slowly gaining 2.96% in the last two weeks.  This week was not a very strong showing, simply based on a three large bouts of strong selling pressure that came into the market late yesterday.