Silver Chart – January 7 2015

The price of spot silver has had a long road down since the high near $50 in 2011. Currently, the precious metal is trading in a range between $15 and $17. However, price action could possibly change for silver if it decides to move above the trendline that signifies its 3 1/2 year trading range. If it does decide to breach the trendline to the upside, a period of consolidation would help move the metal higher in the future.