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Here Is My Silver Trade


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Silver Futures--- Silver futures in the December contract is currently trading at 17.08 after settling last Friday in New York at 16.87 up about $0.20 for the trading week right near a 4 week high looking to breakout possibly in next weeks trade.

I will be recommending a bullish position if prices break the 4 week high which now stands at 17.27 while then placing the stop loss under the 2 week low standing at 16.78 risking about $2,500 on the large contract or $500 on the mini contract plus slippage and commission as the chart structure is outstanding at the present time as the volatility has come to a crawl.

The U.S dollar is near a 4 week low as that is helping support the precious metals at the current time & if you look at the daily chart there is a pennant flag formation in silver which is very interesting in my opinion as a breakout is looming.

If prices break 17.27 I think we will retest the October 16th high of 17.50 as I still think before year-end we could be trading between $18/$19 an ounce as I will not take a short position in silver as I think historically speaking prices look very cheap especially with worldwide economies improving which should pick up demand for many different commodity sectors including silver.

TREND: HIGHER

CHART STRUCTURE: EXCELLENT

VOLATILITY---LOW

If you are looking to contact Michael Seery (CTACOMMODITY TRADING ADVISOR) at 1-630-408-3325 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

If youre looking to open a Trading Account click on this link www.admis.com

There is a substantial risk of loss in futures and futures options. Furthermore, Seery Futures is not responsible for the accuracy of the information contained on linked sites. Trading futures and options is Not appropriate for every investor.



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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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