Second, prices have broken a short-term bearish trend line running along the peaks of February and late March. They’re now trying to break roughly $25.75 – $26.50, a consolidation zone from mid-March.
Third, Bollinger Bandwidth has turned up after falling near 7 percent. This has been a floor for the range of motion. That could help fuel a move if the price action starts to expand.
There’s also a catalyst next week with the Federal Reserve meeting on Wednesday.
The white metal is a strange product overall, with flashes of excitement and long periods of boredom. It’s been inert for months, but now the price action could be pointing toward another period of quicker movement.