Silver Futures— Silver futures in the December contract is currently trading at 17.80 an ounce after settling last Friday in New York at 18.12 down about $0.30 for the trading week & if you are long a futures contract the chart structure has also improved tremendously so place the stop loss as an exit strategy under the 10 day low standing at 17.50 which is just an eyelash away.
Silver prices hit recent highs last Friday at 18.29 and has been riding the coattails of gold and the rest of precious metals higher over the last several weeks as prices are still trading above their 20 & 100 day moving average as the trend remains strong to the upside.
Silver prices are dictated just like gold prices as a North Korean/ United States conflict to rid that country of their nuclear power could push prices significantly higher as I do think down the road there is going to have to be some type of military confrontation as there are no negotiations with this country, as I still think historically speaking silver prices look cheap and could be in the low 20s later this year.TREND: HIGHER –CHART STRUCTURE: EXCELLENT
If you are looking to contact Michael Seery (CTA—COMMODITY TRADING ADVISOR) at 1-312-224-8140 I will be more than happy to help you with your trading or visit www.seeryfutures.com
Skype Address: mseery TWITTER—@seeryfutures
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Michael is the sole owner of SEERYFUTURES.COM which is a commodity futures and options consulting, advisory, and educational firm.
Michael frequently appears on multiple business networks including Bloomberg News, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He also writes market commentary for several commodity websites and is interviewed for commodity comments by the Wall Street Journal. He is also a guest on First Business, which is a national and internationally syndicated business show.
Michael started his career in 1990 at the Chicago Board of Trade as a runner. He soon worked his way up to becoming a Series 3 broker. He works with seasoned traders as well as novice beginners educating them on trading the futures markets as well as using simple and complex option strategies. Michael covers all markets including grains, metals, energies, and all other futures markets that are traded.
To Michael the biggest lesson any trader needs to learn is risk management. Michael believes this is the most important factor in trading. He also works with traders to help them determine the proper risk for their trading style. Michael has spent a lot of time educating his clients to help them understand trading strategies and trading techniques while enjoying spending quality time with customers going over the markets or just talking general trading philosophies.