December Silver . As with gold, silver hit a fresh yearly low today, ending the session at 479.8, down 3.5 cents. Silver has been simply following lock-step with gold lower. As suggested, bulls should wait until there are consecutive closes over major downtrend resistance at 491 before buying futures. The symmetrical triangle I referenced last week was broken to the downside and prices have since made fresh yearly lows.
Prices continue to look lethargic and weak.
If you must be a bull and get into this market ahead of the elections and in conjunction with all the Middle East turmoil, calls are the only reasonable approach.