Silver's Roll Premium Crush

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Silver
Technicals (December - Z)

Silver's pullback aligns with the roll from September to December which carried a hefty premium 40 cents.

Silver futures corrected over 2% in the overnight session after analyst downgrades of the Chinese economy weighed on Copper prices. Futures will need to remain above 28.66 to keep the bullish theme alive. Any close below that level opens the door for another retest of the 200 DMA.



Silver (Dec)—Daily stochastics are correcting from overbought territory, indicating the market may be starting to correct. DMI - above DMI +, and the ADX is declining, indicating the recent rally is losing steam. The average true range (ATR) is 84 cents per day.



For Trend Traders

Bias: Neutral

Bull Trade Trigger: 30.545

Bear Trade Trigger: 28.665



Resistance: 30.565***(Bull Trader Trigger), 32.00-32.50****

Pivot: 29.78 (50 DMA)

Support: 28.66** (Bear Trade Trigger), 27.38**** (200 DMA)


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