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Silver Technical Analysis: We might have formed a major double top
Silver eventually erased almost the entire weekly gain as the short squeeze came to an end. Fundamentally, nothing has changed although the probabilities for a December cut fell to just 40% in the final part of last week. The market participants continue to wait for the key US data ahead of the December FOMC. Strong US data, especially on the labour market side, should keep weighing on silver as it would keep the market speculating on rate cuts pause. Conversely, weak data is likely to support the precious metal as it would give the Fed more reasons to keep cutting rates. In the bigger picture, silver should remain ... (full story)
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