On the global front, the silver maintained its strong momentum following investors and funds buying after recent sharp sell-off, though some caution prevailed ahead of Friday’s US Non-farm payroll data. The trend currently is that economic data turn out to be worse than expected. Until recently, the market reaction mostly favored stocks while metals were punished. In the last couple of weeks, “bad news is again bad news” and stocks are mostly suffering when worse than expected economic data are released. In the economic front this week there are a limited number economic data but they are typically moving markets and metals. On Wednesday Janet Yellen will be speaking about the US economy and on Friday, the US monthly unemployment figures will be released. Both events have the potential to create volatility in stocks, bonds and precious metals. Since the beginning of October 2014, the commodity has been in a trading range with the high at 18.47 and the low at 15.06 as well as in a recovery phase, being squeezed by the 50 and the 200-day moving averages. On yesterday session silver rose on a narrow range day, creating an inside day and closed in the middle of the daily range. The Stochastic is showing bullish momentum and is above the 50 mid line. Expecting an upward move on a break above previous day high at 16.70 to a key level at 17.08 (scenario 1) or even to a daily resistance at 17.90 (scenario 2).