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Was That The Bottom In Silver ?

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Silver Futures---Silver futures in the May contract is currently trading at 14.51 an ounce after settling last Friday in New York at 12.38 up over $2 for the trading week experiencing high volatility as prices hit an 11-year low last week.

Silver has been mirroring the gold market which is also having tremendous price swings on a daily basis as I'm not involved at the current time as I will wait for the chart structure to improve as prices historically speaking look cheap, but there is so much uncertainty due to the Coronavirus as I don't know where prices are headed in the short-term.

Congress passed a massive 2 trillion-dollar relief package which generally is supportive silver prices, but in the short-term is having very little impact, but I think longer term this will start to be a bullish factor towards silver and the entire commodity markets in general.

The last time this happened was in 2009 when commodity prices were depressed and then we experienced tremendous rallies over the next couple of years. Interest rates will probably remain near zero for several more years as that is also a bullish factor towards prices so keep a close eye on this market as we could be involved soon.




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




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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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