I Remain Bullish Silver Prices

17 Feb 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 are currently trading at 18.03 an ounce after settling last Friday in New York at 17.93 up about $0.10 in an extremely low volatile trading manner which is shocking in my opinion as I've been recommending a bullish position around an average price of 17.00 and if you took that trade continue to place your stop loss under the 10 day low which now has been raised to 17.54 as the chart structure is excellent.

Silver prices are trading above their 20 and 100 day moving average telling you that the short-term trend is higher with the next major level of resistance around the recent high of 18.20 as I will be rolling over into the May contract in today's trade as expiration is coming upon us.

At the present time am also recommending a bullish position in platinum & copper as I do think the precious metals look cheap, but we do need some volatility to enter this market as this trade is putting me to sleep despite the fact that prices continue to move higher.

The main problem with the commodities at current time is the fact that the U.S dollar is at 101 and is relentless and will not selloff, but eventually if we do get some weakness prices could accelerate to the upside and that is what I'm waiting for so remain bullish & place the proper stop loss.TREND: HIGHER –-CHART STRUCTURE: EXCELLENT

 

 

 

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