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
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