Low Volatility In Silver Prices

21 Oct 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 December contract settled last Friday in New York at 17.44 an ounce while currently trading at 17.51 basically unchanged with very little volatility over the last several weeks which is unusual in silver as historically speaking this is one of the most volatile commodities day in and day out.

The next major level of support is 17.00 and if that is broken you would think prices are headed back down to the low 16’s, but I do think the downside is limited in this commodity, but I’m currently not involved in the precious metals. If you are short a futures contracts my recommendation would be to place your stop loss above the 10 day high at 17.85 which is risking about $.35 from today’s price level as the chart structure is outstanding as prices have going sideways.

In my opinion I do believe 2017 will be a bullish year for the commodity markets as I do think the giant bearish trends are over with as growth in the United States and the rest of the world will start to come back eventually. TREND: LOWER –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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