
Silver Futures—Silver futures in the December contract absolutely collapsed this week after settling last Friday New York at 27.12 an ounce while currently trading at 22.85 down about $4.25 for the week as prices have now hit a 2 week low.
In my opinion I think silver prices are headed slightly lower in the coming weeks ahead, but as I stated before I will be looking at a bullish position as I do not think the $30 level will be the high in 2021 especially with all of this Federal stimulus money being put into action as prices are looking cheap in my opinion.
The volatility at the current time is extremely high so if you are involved make sure that you only risk 2% of your account balance on any given trade as I will be lying in the weeds waiting for a special opportunity to come about.
TREND: MIXED–LOWER
CHART STRUCTURE: POOR
VOLATILITY: HIGH
If you are looking to contact Michael Seery (CTA—COMMODITY TRADING ADVISOR) at 1-630-408-3325 I will be more than happy to help you with your trading or visit www.seeryfutures.com
TWITTER—@seeryfutures
Email: mseery@seeryfutures.com
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