Silver Futures--- Silver futures in the March contract is down 18 cents this Wednesday afternoon in New York currently trading at 16.67 an ounce as I'm currently sitting on the sidelines looking at a possible bullish position as prices are near a 3 week high.
The chart structure in silver will improve on a daily basis, however the real breakout does not occur until prices crack the 17.30 level as prices are now trading above their 20 day but still below their 100 day moving average which stands at 17.45 as the U.S dollar is up about 50 points this afternoon putting pressure on the precious metals.
At the current time I have no precious metal recommendations, but I am bullish gold, silver, and the copper market as they all look to go higher in my opinion as trading is all about risk and the risk/reward is not your favor at the current time, but could be later next week so keep a close eye on this market to the upside. Historically speaking silver prices are cheap and if there is true growth coming into the United States you have to think that silver prices would move higher over the course of time.TREND: MIXED---CHART STRUCTURE: IMPROVING If you are looking to contact Michael Seery (CTA—COMMODITY TRADING ADVISOR) at 1-312-224-8140 he will be more than happy to help you with your trading or visit www.seeryfutures.com
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