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Silver Prices Lower Despite Weak U.S Dollar


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Silver Futures---Silver futures in the December contract settled last Friday in New York at 17.37 an ounce while currently trading at 16.99 down about $0.38 for the trading week as I have been recommending a bullish position from around the 17.30 level & if you took the trade continue to place the stop loss under the 10 day low which now stands at 16.82 as the chart structure is outstanding at the present time.

Silver prices are trading right at their 20 & 100 day moving average as the trend still remains higher in my opinion despite the fact that silver sold off this week as the U.S dollar was sharply lower hitting a 6 week low which is generally supportive silver & the precious metals, but had no impact in this weeks trade.

For the bullish momentum to continue we have to break last weeks high of 17.37 and then bust the 17.50 level in my opinion as the volatility certainly is starting to increase which is a terrific thing to see as I think the commodities in general will start heading higher as we enter 2018 so stay long & place the proper stop loss.

If you are not involved I am still recommending it even at today's price levels while risking around $1,000 per large contract or $200 per mini contract plus slippage and commission as the risk/reward are in your favor.

TREND: HIGHER

CHART STRUCTURE: EXCELLENT

VOLATILITY---INCREASING

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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