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At What Price Is Silver A Buy ?


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Silver Futures--- Silver futures in the December contract are currently trading at 16.75 after settling last Friday in New York at 17.07 an ounce down over $0.30 for the trading week all due to the fact of the U.S dollar hitting a 3 month high putting pressure on the entire precious metal sector as I'm not involved in silver, but I am looking at a possible bullish position in the coming weeks ahead.

Silver prices are right near a 3 week low still trading under their 20 and 100 day moving average as major support is still around 40 cents away as support is around the 16.20/16.30 level as the trend remains bearish, however silver prices at those cheap levels I am interested in taking a bullish position as I think many commodities are getting very cheap especially compared to the stock market which goes up almost every single day as demand should come back into all of the commodity sectors in 2018 in my opinion.

The chart structure is not that great at the present time therefore the monetary risk is too high, but that should start to improve on a daily basis so keep a close eye on a possible capitulation to the downside as a buying opportunity as I do think the 16 level is rock solid support as you have to remember silver is used in smart phones & other applications which are booming right now so demand will remain strong you just need the dollar to stop going up and interest to come back like it did in 2011.TREND: LOWERCHART STRUCTURE: IMPROVING

If you are looking to contact Michael Seery (CTACOMMODITY 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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Email: mseery@seeryfutures.com

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About the author


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.

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