Silver loses steam, but bulls keep it from losing its gleam

SILVER failed to sustain the bullish momentum two weeks ago after it broke above the US$17.00 range high. The lack of bullish follow-through led to silver falling back below the US$16.00 handle once again, but the strong base of US$16.00 psychological round number stood rock-solid suggesting the bulls are still present.

After silver briefly tagged below the US$16.10 range low, relentless buying resurfaced proving the significance of the US$16…