Silver Futures— Silver futures in the September contract is trading higher for the 3rd consecutive session up $0.10 at 18.68 an ounce reversing earlier losses as there are buyers on any type of weakness which is a bullish technical signal in my opinion.
Gold prices cracked the $1,800 level and has now hit an 8 year high and look towards breaking the 2,000 level in my opinion as I’m now keeping also a very close eye on the platinum market which I think we will be involved in a bullish trade tomorrow as this entire sector is showing the strongest strength to the upside except for the NASDAQ 100.
Silver prices are trading far above their 20 & 100 day moving average as the trend is getting stronger and I think we could possibly crack the 19 level in tomorrow’s trade as I will be looking at adding more contracts to the upside as the risk/reward reward would be in your favor.
CHART STRUCTURE: SOLID
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