Silver's Roll Premium Crush
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)
Check out CME Group real-time data plans available on TradingView here: tradingview.com/cme/
Disclaimers:
CME Real-time Market Data help identify trading set-ups and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs tradingview.com/cme/
*Trade ideas cited above are for illustration only, as an integral part of a case study to demonstrate the fundamental concepts in risk management under the market scenarios being discussed. They shall not be construed as investment recommendations or advice. Nor are they used to promote any specific products, or services.
Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
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)
Check out CME Group real-time data plans available on TradingView here: tradingview.com/cme/
Disclaimers:
CME Real-time Market Data help identify trading set-ups and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs tradingview.com/cme/
*Trade ideas cited above are for illustration only, as an integral part of a case study to demonstrate the fundamental concepts in risk management under the market scenarios being discussed. They shall not be construed as investment recommendations or advice. Nor are they used to promote any specific products, or services.
Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.