RENEWABLES: CWE Morning Wind Forecast

 "*FRANCE SEPT. RETAIL SALES VOLUME FALLS 1.2% Y/Y" bbg

• Y/Y real retail sales have been negative for seven of the nine months this year.

• ERH6 98.125/98.25cs vs ERZ5 98.0625/98.1875cs, bought for 2 in 1.5k.
• ERM6/ERZ5 97.9375p calendar spread, bought for 1.75 in 4k.

• RES 4: $56.153 2.500 proj of the Aug 20 - Sep 16 - 17 price swing   
• RES 3: $55.444 2.382 proj of the Aug 20 - Sep 16 - 17 price swing
• RES 2: $55.00 - Round number resistance
• RES 1: $54.567 - 2.236 proj of the Aug 20 - Sep 16 - 17 price swing    
• PRICE: $51.617 @ 08:11 BST Oct 21
• SUP 1: $49.089 - 20-day EMA 
• SUP 2: $44.996 - 50-day EMA
• SUP 3: $41.135 - Low Sep 17  
• SUP 4: $40.404 - Low Sep 4

Trend signals in Silver are bullish. The metal traded to a fresh cycle high again, last Friday. The move higher confirms a resumption of the primary uptrend and maintains the bullish price sequence of higher highs and higher lows. Sights are on $54.567, a Fibonacci projection, and the $55.00 handle. Note that the trend is in overbought territory, a deeper pullback would allow this condition to unwind. Support to watch is $49.089, the 20-day EMA.