Silver Prices Near 4 Month High

Silver Futures---Silver futures in the September contract is trading higher for the 3rd consecutive session up another $0.33 at 15.70 an ounce right at major resistance. I have been recommending a bullish position from the 14.93 level & if you took that trade continue to place the stop loss at 14.70 as an exit strategy, however in next weeks trade I will raise that stop significantly therefor the monetary will be reduced.

Silver prices are now trading above their 20 & 100 day moving average as the trend clearly is to the upside as I still think prices look very cheap especially compared to gold. If the 15.75 level is broken I think we will retest the January 20th high of 16.47 as I still think there is significant room run to the upside so stay long as I will be looking at adding more contracts in the coming days ahead.

At the present time I have bullish recommendations in copper, platinum, and palladium as the entire sector is bullish in my opinion as letting winners run while cutting losers quickly is the way to trade over the course of time so continue to place the proper stop loss as who knows how high prices can go.

TREND: HIGHER

CHART STRUCTURE: IMPROVING

VOLATILITY: AVERAGE

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

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