December Silver . The silver market has now traded in the red for 6 consecutive sessions, hitting another fresh yearly low, closing today at 476.5, down 3.3 cents. Silver has been simply following lock-step with gold lower. Bulls should wait until there are consecutive closes over moving average resistance at 488 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.