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Silver Prices React Neutral To Bombing


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Silver Futures--- Silver futures in the May contract settled last Friday in New York at 16.36 while currently trading at 16.63 as I have been recommending a bullish position from around the 16.85 level & if you took the trade continue to place the stop loss under the 10 day low which stands at 16.15 an ounce.

Silver prices reacted pretty neutral off of this weekends bombing from the United States and its coalition hitting certain chemical weapon regions in Syria as that was expected we just didn't know when the situation would occur as I still remain bullish silver regardless of geopolitical problems so continue to place the proper stop loss.

If you are not involved in this market I still recommend it at today's price levels as the chart structure is outstanding as the volatility still remains relatively low as prices are still trading above their 20 day and right at their 100 day moving average as we are in a longer term bottoming out process in my opinion.

I will be looking at adding more contracts to the upside if prices break the $17 level as I would have to think that the volatility will certainly expand to the upside in the coming months ahead as silver is an inflationary commodity and if you take a look at crude oil prices they continue to hit contact highs on a daily basis as I think that will start to bleed into the precious metal sector in the months to come.

Silver prices have been stuck in a $1 trading range over the last 9 weeks as the longer the consolidation the stronger the trend as I think the downside is very limited.

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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