I Am Bullish Silver Prices

06 Nov in Blog, commodity trading, copper futures, futures trading, gold futures, Mike Seery, palladium futures, platinum futures, seeryfutures, silver futures

Silver Futures--- Silver futures in the March contract settled last Friday in New York at 17.91 an ounce while settling this week at 18.50 up about $0.60 for the trading week as I am now recommending a bullish position while placing your stop loss under the 10 day low which stands at 17.82 risking about $700 per mini contract plus slippage and commission. The chart structure in silver is outstanding as prices broke out of a very tight 4 week consolidation as the bearish trends in many of the commodities are coming to an end despite the fact that the U.S dollar is still hovering right near an 8 month high as silver prices still look cheap in my opinion.

If you have been following any of my previous blogs you understand that chart structure is very important coupled with the fact that the risk/reward is in your favor meeting criteria, so I will play this to the upside as the chart structure will not improve for another 5 days.

Gold prices have also broken out of a tight channel and I'm keeping a close eye on that market as well, but I will initiate the silver trade first as the U.S election is this Tuesday as that certainly will send volatility back into many commodities and stock prices Wednesday afternoon.

Silver prices are trading above their 20 day but still below their 100 day moving average telling you that the shorter-term trend is mixed, however a true breakout has occurred so take a shot.TREND:HIGHER---CHART STRUCTURE---EXCELLENT

 

If you are looking to contact Michael Seery (CTA—COMMODITY TRADING ADVISOR) at 1-312-224-8140 he will be more than happy to help you with your trading or visit www.seeryfutures.com Skype Address: mike.seery3 TWITTER---@seeryfutures

FREE TRIAL FOR THE LIMIT UP COMMODITY NEWSLETTER  

If you’re looking to open a Trading Account click on this link www.admis.com

 

There is a substantial risk of loss in futures and futures options. Furthermore, Seery Futures is not responsible for the accuracy of the information contained on linked sites. Trading futures and options is Not appropriate for every investor.

Home  | Privacy Notice | Risk Disclosure | Contact Us

Trading Futures and Options on Futures transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

Past performance is not necessarily indicative of future results.

Trading results obtained by a client while trading a demo account may not be indicative of the results obtained
when trading a live account due to the fact that trades are not sent to a regulated exchange but they are sent
to a simulated off-exchange server.

© 2017. Seery Futures. All Rights Reserved.