Where Are Silver Prices Going ?

Where Are Silver Prices Going ?
Where Are Silver Prices Going ?

Silver Futures—Silver futures in the December contract settled last Friday in New York at 25.66 an ounce while currently trading at 24.82 down about $0.85 for the trading week experiencing tremendous price swings on a daily basis as the volatility is extremely high.

At the present time I’m sitting on the sidelines as I have a bullish gold recommendation while keeping a close eye on silver if we close above the critical  25.71 level as then I will be recommending a bullish trade. Silver prices are trading right at their 20 and 100 day moving average as we continually trade in a  consolidation pattern over the last 2 months looking to break out to the upside in my opinion as I still do not believe the $30 level will be the high in silver.

Fundamentally speaking worsening pandemic may force countries to impose tighter lockdowns to slow the spread of the virus, which will undercut economic growth and may prompt the world’s central banks to expand their stimulus measures.

Remember when you trade the commodity markets make sure that you place the proper amount of contracts while risking 2% of your account balance on any given trade as silver is an extremely volatile commodity with high-risk and if you violate that rule problems will happen. 

 

TREND: MIXED–HIGHER

CHART STRUCTURE: IMPROVING

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

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.