Have Silver Prices Topped Out ?

25 Feb in Blog, commodity consulting, commodity trading, copper futures, futures broker, gold futures, Michael Seery, options broker, palladium futures, platinum futures, Seery Futures.com, silver futures

Silver Futures--- Silver futures in the May contract are currently trading lower by $.17 at 15.16 an ounce as I’ve been recommending a bullish position from around 14.80 and if you took that trade continue to place your stop loss above the 10 day low which currently stands at 14.95 risking about $.20 or $200 per mini contract plus slippage and commission from today’s price levels.

Silver prices are still trading above their 20 and 100 day moving average telling you that the short-term trend is to the upside as this commodity has become extremely volatile over the last several weeks rallying from the contract low around 13.80 all the way to around $16 as its reacting to whatever the stock market does at the current time. If the S&P 500 is sharply lower you can rest assure that silver prices are higher, but then the opposite happens if the S&P is sharply higher than they selloff the precious metals so continue to play this to the upside as the risk/reward is highly in your favor and even if were stopped out this trade it would basically be flat monetarily wise.

At the current time I’m only recommending a few short commodities including cotton and natural gas as I’m looking for new breakouts to occur and sometimes that will take patience as I don’t like to trade just to trade as I want the probabilities of success on in my favor. 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

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