Silver - 8 hour chart update

Before we get to the chart, the March contract has gone without much in the way of any fireworks. The remaining 41 contracts in that month are all accounted for in tomorrow's deliveries so that is it for any short squeeze in that month. To be honest, the market has performed admirably without any such event anyway.

We can now turn out attention to the May contract as the open interest in the thinly traded April is too small to be of any significance. May is trading at a 2 cent discount to the July so there is no backwardation in the front months' structure at this time.