FundamentalOverviewSilver eventually erasedalmost the entire weekly gain as the short squeeze came to an end.Fundamentally, nothing has changed although the probabilities for a Decembercut fell to just 40% in the final part of last week. The market participantscontinue to wait for the key US data ahead of the December FOMC. Strong USdata, especially on the labour market side, should keep weighing on silver asit would keep the market speculating on rate cuts pause. Conversely, weak datais likely to support the precious metal as it would give the Fed more reasonsto keep cutting rates.In the bigger picture, silvershould remain in an uptrend as real yields will likely continue to fall amidthe Fed’s dovish reaction function. But in the short term, a further hawkishrepricing in interest rate expectations should keep weighing on the market. SilverTechnical Analysis – Daily TimeframeOn the daily chart, we cansee that silver got rejected right around the all-time highs as the double topnow looks even clearer. The target for the sellers should be the majortrendline around the 45.00 level. If the price gets there, we can expect thebuyers to lean on the trendline with a defined risk below it to position for arally into a new all-time high.Silver TechnicalAnalysis – 4 hour TimeframeOn the 4 hour chart, we cansee that we have a strong support zone around the 49.50 level. If the pricegets there, we can expect the buyers to step in with a defined risk below thetrendline to position for a rally into a new all-time high. The sellers, on theother hand, will look for a break lower to increase the bearish bets into themajor trendline.Silver TechnicalAnalysis – 1 hour TimeframeOn the 1 hour chart, we cansee that we have a minor downward trendline defining the bearish momentum onthis timeframe. We can expect the sellers to lean on the trendline with adefined risk above it to keep pushing into new lows, while the buyers will lookfor a break higher to pile in for a rally into the all-time highs. The redlines define the average daily range for today. UpcomingCatalystsTomorrow we get the weekly ADP jobs data. On Wednesday, we have the FOMCmeeting minutes. On Thursday, we get the September NFP report and maybe the USJobless Claims data. On Friday, we conclude the week with the US Flash PMIs. This article was written by Giuseppe Dellamotta at investinglive.com.